Question
Altima Corp. had the following transactions for this year. Prepare journal entries for each transaction On March 15, Altima Corp. purchased 4,000 shares of their
Altima Corp. had the following transactions for this year. Prepare journal entries for each transaction
On March 15, Altima Corp. purchased 4,000 shares of their own stock on the open market for $10 cash per share.
On July 10, Altima Corp. re-issued 1,500 shares of treasury stock for $12 per share.
On October 31, Altima Corp. re-issued 2,500 shares of treasury stock for $9 per share.
Journal entries:
| Date | Description | Debit | Credit |
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| Mar 15 |
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| July 10 |
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| Oct 31 |
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Learning From Collaborative Audit
Authors: Higher Education Quality Council
1st Edition
1858242312, 978-1858242316
