1 On February 1, 2021, Amber Company issued 1,000 shares of $10 par value common stock for $40 a share This is the first time Alana has ever issued shares of common stock Prepare the journal entry needed for Amber to properly record this transaction Account Debit Credit Cash APIC CS APIC Share Repurchase Common Stock Retained Earnings Treasury 2 On July 8, 2021, Amber Company paid $50 a share to reacquire 500 of the shares issued on February 1, 2021 This is the first time Amber has ever reacquired shares Amber did not retire these reacquired $10 par value common stock shares Prepare the journal entry needed for Amber to properly record this transaction Account Debit Credit APIC CS APIC Share Repurchase Common Stock Treasury Stock Cash Retained Earnings 3 On September 12, 2021, Amber Company received $60 a share when reissuing 100 of the common stock shares reacquired on July 8, 2021 This is the first time Amber has ever reissued reacquired shares Prepare the journal entry needed for Amber to properly record this transaction Account Debit Credit Cash Retained Earnings APIC CS APIC Share Repurchase Common Stock Treasury Stock 4 On November 22, 2021, Amber Company received $30 a share when reissuing 250 of the common stock shares reacquired on July 8, 2021 This is the second time Amber has ever reissued reacquired shares Prepare the journal entry needed for Amber to properly record this transaction Account Debit Credit APIC CS APIC Share Repurchase Cash Common Stock Retained Earnings Treasury Stock

Question

1  On February 1, 2021, Amber Company issued 1,000 shares of $10 par value common stock for $40 a share  This is the first time Alana has ever issued shares of common stock  Prepare the journal entry needed for Amber to properly record this transaction  Account Debit Credit Cash APIC CS APIC Share Repurchase Common Stock Retained Earnings Treasury 2  On July 8, 2021, Amber Company paid $50 a share to reacquire 500 of the shares issued on February 1, 2021  This is the first time Amber has ever reacquired shares  Amber did not retire these reacquired $10 par value common stock shares  Prepare the journal entry needed for Amber to properly record this transaction  Account Debit Credit APIC CS APIC Share Repurchase Common Stock Treasury Stock Cash Retained Earnings 3  On September 12, 2021, Amber Company received $60 a share when reissuing 100 of the common stock shares reacquired on July 8, 2021  This is the first time Amber has ever reissued reacquired shares  Prepare the journal entry needed for Amber to properly record this transaction  Account Debit Credit Cash Retained Earnings APIC CS APIC Share Repurchase Common Stock Treasury Stock 4  On November 22, 2021, Amber Company received $30 a share when reissuing 250 of the common stock shares reacquired on July 8, 2021  This is the second time Amber has ever reissued reacquired shares  Prepare the journal entry needed for Amber to properly record this transaction  Account Debit Credit APIC CS APIC Share Repurchase Cash Common Stock Retained Earnings Treasury Stock

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1. On February 1, 2021, Amber Company issued 1,000 shares of $10 par value common stock for $40 a share. This is the first time

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Account	Debit	Credit
Cash
APIC-CS
APIC-Share Repurchase
Common Stock
Retained Earnings
Treasury