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2nd picture is main information to answer question 3 in 1st picture On August 25, 2020 when Bianca sold 3 million shares at $126 per
2nd picture is main information to answer question 3 in 1st picture
On August 25, 2020 when Bianca sold 3 million shares at $126 per share (for the treasury stock ethod, assume weighted average cost). etirement Debit or Credit? Account Name Amount Treasury Stock Debit or Credit? Account Name Amount (12 points) In 2020, Bianca's Natural Disasters entered into the transactions described below. After incorporating in 2019, Bianca issued 25 million shares of its $3 par common stock at $120 per share, and subsequently repurchased 5 millions shares at $122 per share. There are currently 20 million shares outstanding. Bianca has a $129,589.781,569.987 credit balance in their Retained Earnings account as of Dec. 31, 2019. Prepare the journal entries under both the retirement and the treasury stock methods. Each answer should have two journal entries--one for retirement, one for treasury stockStep by Step Solution
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