Question
5. XYZ Company issued 10,000 shares of $1 par value common stock at a price of $20 per share. On Jan. 1, XYZ buys back
5. XYZ Company issued 10,000 shares of $1 par value common stock at a price of $20 per share. On Jan. 1, XYZ buys back 1,000 of its shares at $22 per share. On Jan. 15, XYZ sells 100 treasury shares at $25 per share. Please write the necessary journal entries for Jan. 1 and Jan. 15.
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
4th edition
978-0134125053, 9780134114781, 134125053, 134114787, 978-0134436111
