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Concord Corporation's balance sheet reported the following: Capital stock outstanding, 7 , 0 0 0 shares, par $ 4 0 per share $ 2 8
Concord Corporation's balance sheet reported the following:
Capital stock outstanding, shares, par $ per share $
Paidin capital in excess of par
Retained earnings
The following transactions occurred this year:
a Purchased shares of capital stock to be held as treasury stock, paying $ per share.
b Sold of the shares of treasury stock at $ per share.
c Sold the remaining shares of treasury stock at $ per share.
Prepare the journal entry for these transactions under the cost method of accounting for treasury stock. List all debit entries before credit entries. 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 for the amounts.
No Account Titles and Explanation
Debit
Credit
a
b
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