Hinsdale Corp. issues 1,000 shares of $3 par value common stock at $20 per share. Later...
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Hinsdale Corp. issues 1,000 shares of $3 par value common stock at $20 per share. Later in the year, the company repurchased 200 shares at a cost of $22 per share. 1. Record the journal entry for the original issue of the 1,000 shares. 2. Record the journal entry for the repurchase of 200 shares. 3. Record the journal entry if Hinsdale Corp. reissues the 200 shares of treasury stock at $25 per share. Hinsdale Corp. issues 1,000 shares of $3 par value common stock at $20 per share. Later in the year, the company repurchased 200 shares at a cost of $22 per share. 1. Record the journal entry for the original issue of the 1,000 shares. 2. Record the journal entry for the repurchase of 200 shares. 3. Record the journal entry if Hinsdale Corp. reissues the 200 shares of treasury stock at $25 per share.
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