Brief Exercise 15-9

Vaughn Corporation has outstanding22,000shares of $5 par value common stock. On August 1, 2017, Vaughn reacquired180shares at $80per share. On November 1, Vaughn reissued the180shares at $71per share. Vaughn had no previous treasury stock transactions.

Prepare Vaughn's journal entries to record these transactions using the cost method.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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Brief Exercise 15-9 Vaughn Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2017, Vaughn reacquired 180 shares at $80 per share. On November 1, Vaughn reissued the 180 shares at $71 per share. Vaughn had no previous treasury stock transactions. Prepare Vaughn's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date 8/1/17 11/1/17 Account Titles and Explanation Debit Credit