$4$:$33$

LTE $,$

Acc $222$ T$3$ bc CH$12-13042024$: A$...$

$(-)$ Timed Test

Question $1$

$-\frac{-}{8}$

Treasury$\_$Stock

$04/4/23$ In order to improve the Common Stock price, the Treasurer of Jones Co$.$ purchased $1000$ shares of its $$2.$ PV common stock at $$20$ per share.

$09/01/23$ Sold $500$ shares of Treasury stock at $$22.$

$11/30/23$ Sold $300$ shs of Treaury Stock @ $$15.$

Required:

Record the Journal Entries for the three Treasury Stock Transactions.

At year end, $100$ shares of Treasury stock remains in the Co Treasury; how are these shares presented in the Jones Co$.$ Financial Statements?

Question $2$

$-\frac{-}{2}$

The addition of a new partner to a firm does not dissolve the old partnership.

True

Drafts Are Disabled

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