Question
A company reported a certain stockholders equity on Jan 1 of the current year common stock, $10, 1,000,000 shares authorized and 400,000 shares issued =
A company reported a certain stockholders equity on Jan 1 of the current year
common stock, $10, 1,000,000 shares authorized and 400,000 shares issued = $4,000,000
paid in capital in excess of common par = $1,200,000
retained earnings = $1,600,000
total stockholders equity = $6,800,000
what are the journal entries for the transactions related to the company's stock for the current year?
March 1 purchase 10,000 shares of treasury stock for $17 per share
May 5th sold 4000 shares of treasury stock for $16 per share
Oct 12th sold 2,000 shares of treasury stock for $18 per share
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