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Current Attempt in Progress Sage Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 19,600 shares issued Paid-in
Current Attempt in Progress Sage Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 19,600 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $98,000 299,000 317,000 $714,000 During 2020, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Sage repurchased 2,110 shares of treasury stock at a price of $17 per share. 830 shares of treasury stock repurchased above were reissued at $15 per share. 550 shares of treasury stock repurchased above were reissued at $13 per share. 660 shares of treasury stock repurchased above were reissued at $20 per share. (a) Prepare the journal entries to record the treasury stock transactions in 2020, assuming Sage uses 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Prepare the stockholders' equity section as of April 30, 2020. Net income for the first 4 months of 2020 was $142,400. (Enter account name only and do not provide descriptive information.) SAGE COMPANY Stockholders' Equity $ $ Save for Later Attempts: 0 of 3 used Submit
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