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I have completed section a) and b) as you can see, but I need help with c). Please and thank you. Monty Corp. had the

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I have completed section a) and b) as you can see, but I need help with c). Please and thank you.

Monty Corp. had the following stockholders' equity accounts on January 1,2019: Common Stock ($4 par) $418,640, Paid-in Capital in Excess of Par-Common Stock $185,790, and Retained Earnings $105,010. In 2019, the company had the following treasury stock transactions. Mar. 1 Purchased 5,660 shares at $9 per share. June 1 Sold 1,020 shares at $13 per share. Sept. 1 Sold 1,200 shares at $10 per share. Dec. 1 Sold 1,200 shares at $6 per share Monty Corp. uses the cost method of accounting for treasury stock. In 2019, the company reported net income of $30,140. Your answer is correct. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2019, for net income. (Record journal entries in the order presented in the problem. 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.) Credit Date Account Titles and Explanation Debit Treasury Stock Mar. 1 50940 50940 Cash June 1 Cash 13260 180 Treasury Stock Your answer is correct. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2019, for net income. (Record journal entries in the order presented in the problem. 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 Mar. 1 Treasury Stock 50940 Cash 50940 June 1 Cash 13260 Treasury Stock 9180 Paid-in Capital from Treasury Stock 4080 Sept. 1 Cash 12000 Treasury Stock 10800 Paid-in Capital from Treasury Stock Dec. 1 Cash 7200 Paid-in Capital from Treasury Stock 3600 Treasury Stock 10800 Dec. 31 Income Summary 30140 Retained Earnings 30140 Dec. 31 Income Summary 30140 Retained Earnings 30140 eTextbook and Media List of Accounts Attempts: 1 of 3 used Your answer is correct. Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. (Post to T-accounts.) (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital from Treasury Stock 3600 June 1 Sept. 1 Dec. 31 4080 Dec. 1 1200 1680 Treasury Stock Mar. 1 - Your answer is correct. Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. (Post to T-accounts.) (Post entries in the order of journal entries presented in the previous part) Paid-in Capital from Treasury Stock 3600 4080 Dec. 1 June 1 Sept. 1 1200 Dec. 31 1680 Treasury Stock June 1 - Sept. 1 Dec. 1 Mar. 1 50940 9180 10800 10800 Dec. 31 20160 Retained Earnings 105010 Jan. 1 Dec. 31 30140 Dec. 31 135150 Retained Earnings 105010 Jan. 1 30140 Dec. 31 Dec. 31 135150 eTextbook and Media List of Accounts Attempts: 2 of 3 used Prepare the stockholders' equity section for Monty Corp. at December 31,2019. (Enter the account name only and do not provide the descriptive information provided in the question.) Monty Corp. Balance Sheet (Partial) December 31,2019 Stockholders' Equity Paid-in Capital Capital Stock Prepare the stockholders' equity section for Monty Corp. at December 31, 2019. (Enter the account name only and do not provide the descriptive information provided in the question.) Monty Corp. Balance Sheet (Partial) December 31,2019 Stockholders' Equity Paid-in Capital Capital Stock

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