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20/2000 Assignment Print View A2.00 Al December 31, 2017. The balance sheet of Mecantonal included n owing wha t we (5 in ) Shareholders' Equity

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20/2000 Assignment Print View A2.00 Al December 31, 2017. The balance sheet of Mecantonal included n owing wha t we (5 in ) Shareholders' Equity Common stock. 60 milion shares att par Pada p or por Rendamine Required: Assuming that Meca International views its share buybacks as treasury stock record the appropriate journal entry for each of the following transactions: If no entry is required for a transaction event, select "No Journal entry required in the first account field. Enter your an in m inste 10.000.000 should be entered as 101) 1. On February 12, 2018, Meca reacquired 1 million common shares a $13 per share 2. On June 9, 2019, Meca reacquired 2 million common shares at $10 per share. 3. On May 25, 2020, Meca sold 2 million treasury shares at $15 per sharedetermine cost as the weighted average cost of treasury share 4. For the previous transaction assume Meca determines the cost of treasury shares by the FIFO method View transactions Journal entry worksheet Record the sale of 2 million treasury shares at $15 per share-determine cost as the weighted average cost of treasury shares. Note: Enter debits before credits Date Debit Credit May 25, 2020 General Journal Cash Paid-in capital share repurchase Treasury stock | Difference Record entry Clear entry View general journal Assignment Print View Award: 2.00 points At December 31, 2017, the balance sheet of Meca International included the following shareholders' equity accounts: Shareholders' Equity (s in millions) Common stock, 60 million shares at $1 par $ 60 Paid-in capital excess of par 300 Retained earnings 410 Required: Assuming that Meca International views its share buybacks as treasury stock, record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No Journal entry required in the first account field. Enter your answers in millions (L., 10,000,000 should be entered as 10).) 1. On February 12, 2018, Meca reacquired 1 million common shares at $13 per share. 2. On June 9, 2019, Meca reacquired 2 million common shares at $10 per share. 3. On May 25, 2020, Meca sold 2 million treasury sharos at $15 per share determine cost as the weighted-average cost of treasury shares. 4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method. View transaction list Journal entry worksheet

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