Question
Entries for treasury stock On May 27, Hydro Clothing Inc. reacquired 60,000 shares of its common stock at $8 per share. On August 3, Hydro
Entries for treasury stock
On May 27, Hydro Clothing Inc. reacquired 60,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 42,000 of the reacquired shares at $12 per share. On November 14, Hydro Clothing sold the remaining shares at $6 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.
| Date | Account | Debit | Credit |
|---|---|---|---|
| May 27 | Treasury Stock | ||
| Cash | |||
| Aug. 3 | Cash | ||
| Treasury Stock | |||
| Paid-In Capital from Sale of Treasury Stock | |||
| Nov. 14 | Cash | ||
| Paid-In Capital from Sale of Treasury Stock | |||
| Treasury Stock |
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Operational Profitability Conducting Management Audits
Authors: Robert M. Torok, Patrick J. Cordon
1st Edition
0471172251, 978-0471172253
