$1$

Required information

E$11-8($Static$)$ Recording Treasury Stock Transactions and Analyzing Their Impact $[$LO $11-2,$ LO $11-3]$

$[$The following information applies to the questions displayed below.$]$

The following selected transactions occurred for Corner Corporation

February $1$ Purchased $400$ shares of the company's own common stock at $$2$ cash per share; the stock is now held in treasury.

July $15$ Issued $100$ of the shares purchased on February $1$ for $$30$ cash per share.

September $1$ Issued $68$ more of the shares purchased on February $1$ for $$15$ cash per share.

E$11-8($Static$)$ Part $1$

Required:

Indicate the account, amount, and direction of the effect for the above transactions. $($Enter any decreases to account balances with a minus sign.$)$

$\backslash$table$[[,$Assets,$=,$Liabilities,$+,$Stockholders' Equity$],[$February $1,,]=,,1+1,],[$July $15,4,=,3,+3,],[$July $15,-,=,,+1,],[$September $1,+,=,,1+1,],[$Seplember $1,,]=,,]+1,]]$