Treasury Stock Transactions Provide the necessary journal entries to record the following: a. Washington Corporation was granted

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Treasury Stock Transactions Provide the necessary journal entries to record the following:

a. Washington Corporation was granted a charter authorizing the issuance of 200,000 shares of $10 par-value common stock.

b. The company issued 50,000 shares of common stock at $15 per share.

c. The company reacquired 3,000 shares of its own stock at $19 per share, to be held in treasury.

d. Another 1,500 shares of stock were reacquired at $21 per share.

e. Of the shares reacquired in (c), 1,200 were reissued for $24 per share.

f. Of the shares reacquired in (d), all 1,500 were reissued for $16 per share.
g. Given the preceding transactions, what is the balance in the treasury stock account?

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Accounting Concepts And Applications

ISBN: 9780324376159

10th Edition

Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain

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