Question
Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 76,000 shares of its common stock at $10 per share. On August 3, Buzz
Entries for Treasury Stock
On May 27, Buzz Off Inc. reacquired 76,000 shares of its common stock at $10 per share. On August 3, Buzz Off sold 50,000 of the reacquired shares at $13 per share. On November 14, Buzz Off sold the remaining shares at $8 per share.
Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
May 27 | CashCommon StockPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of ParTreasury StockTreasury Stock | Treasury Stock | |
CashCommon StockPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of ParTreasury StockCash |
Aug. 3 | Accounts ReceivableCashCommon StockRetained EarningsTreasury StockCash | Cash | Cash |
Common StockPreferred StockRetained EarningsStock DividendsTreasury StockTreasury Stock | Treasury Stock | Treasury Stock | |
Common StockPaid-In Capital from Sale of Treasury StockPreferred StockRetained EarningsStock DividendsPaid-In Capital from Sale of Treasury Stock |
..
Nov. 14 | Accounts ReceivableCash DividendsCashCommon StockTreasury StockCash | Cash | Cash |
Common StockPaid-In Capital from Sale of Treasury StockRetained EarningsSalesTreasury StockPaid-In Capital from Sale of Treasury Stock | Paid-In Capital from Sale of Treasury Stock | Paid-In Capital from Sale of Treasury Stock | |
Common StockPreferred StockSalesStock Dividends DistributableTreasury StockTreasury Stock |
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