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2. A company reported the following stockholder's equity on January 1 of the current year: Common Stock, $10 par, 1,000,000 shares authorized, 400,000 shares issued
2. A company reported the following stockholder's equity on January 1 of the current year: Common Stock, $10 par, 1,000,000 shares authorized, 400,000 shares issued $4,000,000 Paid -in - Capital in excess of par, common 1,200,000 Retained earnings 1,600,000 Totals Stockholder's Equity $6,800,000 Prepare journal entries for the following selected transactions related to this company's stock during the current year: Mar 1 Purchased 10,000 shares of Treasury Stock for $17 per share May 5 Sold 4,000 shares of Treasury Stock for $16 per share Oct 12 Sold 2,000 shares of Treasury Stock for $18 per share
2. A company reported the following stockholder's equity on January 1 of the current year:
Common Stock, $10 par, 1,000,000 shares authorized, 400,000 shares issued $4,000,000
Paid -in - Capital in excess of par, common 1,200,000
Retained earnings 1,600,000
Totals Stockholder's Equity $6,800,000
Prepare journal entries for the following selected transactions related to this company's stock
during the current year:
Mar 1 Purchased 10,000 shares of Treasury Stock for $17 per share
May 5 Sold 4,000 shares of Treasury Stock for $16 per share
Oct 12 Sold 2,000 shares of Treasury Stock for $18 per share
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