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Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Wild Bill Corporation repurchases 190 shares of its outstanding common stock for $9
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Wild Bill Corporation repurchases 190 shares of its outstanding common stock for $9 per share on March 1, 2019, Wild Bill sells 330 shares of treasury stock for $12 per share. On May 10, 2019, Wild Bill sells the remaining 560 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions 8,280X 2019 Feb. 1 Treasury Stock Cash (Record purchase of treasury shares) Cash Mar. 1 Treasury Stock Additional Paid-In Capital - Treasury Stock (Record reissue of treasury shares) III III I 100 101 Cash May 10 Additional Paid-In Capital - Treasury Stock Retained Earninas 07 egenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&_takeAssignmentSes.... Mar. 1 Cash Treasury Stock Additional Paid-In Capital - Treasury Stock (Record reissue of treasury shares) llo 1100 110 III. May 10 Cash Additional Paid-In Capital - Treasury Stock Retained Earnings Treasury Stock (Record reissue of treasury shares)
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