4. (10 POINTS) Bonneau Company currently has 20,000 shares of $10 par common stock outstanding. Prepare...
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4. (10 POINTS) Bonneau Company currently has 20,000 shares of $10 par common stock outstanding. Prepare entries to record the following transactions: a. On July 1, 2020, Bonneau reacquired 2,000 shares of treasury stock at $15. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares, b. On July 20, Bonneau reissued 300 shares of treasury stock at $20. c. On August 15, Bonneau reissued 500 shares of treasury stock at $11. Date Debit Credit 4. (10 POINTS) Bonneau Company currently has 20,000 shares of $10 par common stock outstanding. Prepare entries to record the following transactions: a. On July 1, 2020, Bonneau reacquired 2,000 shares of treasury stock at $15. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares, b. On July 20, Bonneau reissued 300 shares of treasury stock at $20. c. On August 15, Bonneau reissued 500 shares of treasury stock at $11. Date Debit Credit
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