Question
During 2014 the following selected transactions affecting stockholders equity occurred for TARP Corporation: a. Feb. 1 Purchased in the open market 240 shares of the
During 2014 the following selected transactions affecting stockholders equity occurred for TARP Corporation: a. Feb. 1 Purchased in the open market 240 shares of the companys own common stock at $27 cash per share. b. Jul. 15 Sold 80 of the shares purchased on February 1 for $28 cash per share. c. Sept. 1 Sold 50 more of the shares purchased on February 1 for $26 cash per share. Required: 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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