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At December 31, 2023, the balance sheet of Meca International Included the following shareholders' equity accounts: Requlred: Assuming that Meca International vlews its share buybacks
At December 31, 2023, the balance sheet of Meca International Included the following shareholders' equity accounts: Requlred: Assuming that Meca International vlews its share buybacks as treasury stock, record the approprlate journal entry for each of the following transactlons: Note: If no entry Is requlred for a transaction/event, select "No journal entry requlred" In the first account fleld. Enter your answers In millions (l.e., 10,000,000 should be entered as 10). 1. On February 12, 2024, Meca reacquired 1 million common shares at $13 per share. 2. On June 9, 2025, Meca reacquired 2 million common shares at $10 per share. 3. On May 25, 2026, Meca sold 2 million treasury shares at $15 per share. Determine cost as the welghted-average cost of treasury shares. 4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method. Journal entry worksheet Record the reacquisition of 1 million common shares at $13 per share. Note: Enter debits before credits
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