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Entries for Treasury Stock On May 27, Idress Clothing Inc, reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress
Entries for Treasury Stock On May 27, Idress Clothing Inc, reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress Clothing sold 41,000 or the reacquired shares at $17 per share. On November 14, Idress Clothing sold the remaining shares at $9 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 Aug 3 UNO DIU OD INN INN II Nov 14 > > Reporting Stockholders' Equity Using the following accounts and balances, prepare the stockholders Equity section or the balance sheet using Method I of Exhibit 8. Five Hundred thousand shares of common stock are authorized, and 35,000 shares have been reacquired. Common Stock. $120 par $25,500,000 Paid-In Capital from Sale of Treasury Stock 4,094.000 Paid-In Capital in Excess of Par Common Stock 7,230,000 Retained Eamings 47101,000 Treasury Stock 3,920,000 Stockholders' Equity
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