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Check my work 2 Johnston, Inc., engaged in the following transactions involving treasury stock. 10 points Feb.10 Purchased for cash 17,000 shares of treasury stock
Check my work 2 Johnston, Inc., engaged in the following transactions involving treasury stock. 10 points Feb.10 Purchased for cash 17,000 shares of treasury stock at a price of $30 per share. June 4 Reissued 6,000 shares of treasury stock at a price of $46 per share. Dec.22 Reissued 4,000 shares of treasury stock at a price of $22 per share. a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. eBook Print Complete this question by entering your answers in the tabs below. References Required A Required B Prepare general journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Check my work 2 View transaction list Journal entry worksheet 10 points eBook Record purchase of treasury stock. Print References Note: Enter debits before credits. Date General Journal Debit Credit Feb 10 Check my work 2 View transaction list Journal entry worksheet 10 points eBook Record sale of treasury stock at $46 per share. Print References Note: Enter debits before credits. Date General Journal Debit Credit Jun 04 Check my work 2. View transaction list Journal entry worksheet 10 points eBook Record sale of treasury stock at $22 per share. Print References Note: Enter debits before credits. Date General Journal Debit Credit Dec 22 Check my work 2 Feb.10 Purchased for cash 17,000 shares of treasury stock at a price of $30 per share. June 4 Reissued 6,000 shares of treasury stock at a price of $46 per share. Dec.22 Reissued 4,000 shares of treasury stock at a price of $22 per share. 10 points a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. Complete this question by entering your answers in the tabs below. eBook Print References Required A. Required B Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. Restricted retained earnings
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