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A14-8 Treasury Stock (LO 14-4) On 1 January 20X1, Grey Corp. issued 376,000 no-par common shares at $4.05 per share. In 20X5, there were
A14-8 Treasury Stock (LO 14-4) On 1 January 20X1, Grey Corp. issued 376,000 no-par common shares at $4.05 per share. In 20X5, there were treasury stock transactions. On 15 January 20X5, the company purchased 4,200 of its own common shares at $3.10 per share to be held as treasury stock. On 1 March, 750 of the treasury shares were resold at $4.60. On 15 March, 500 shares were purchased for $1.52. On 31 March, 850 of the treasury shares were sold for $1.85. The remaining shares were cancelled and retired on 1 June. The balance in retained earnings was $963,500 prior to these transactions. Required: 1. Provide all 20X5 entries. (Round "per share" answer to two decimal places and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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