instruction

charts if accounts

general journal

Instruction On April a corporation purchased for cash 7000 shares of its own 510 par common stock at 28 a share. It sold 4,000 of the treasury shares al 31 a share on June 10. The remaining 3.000 shares were sold on November 10 for $24 a share Required: #Jumalce the entries to record the purchase freasy stock is recorded or cost b. Journalve the entries to record the sale of the stock "Refer to the Chart of Accounts for exact wording of account Of Accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Interest Revenue 131 Notes Receivable 132 Interest Receivable EXPENSES 510 Cost of Goods Sold 141 Inventory 145 Supplies 151 Prepaid Insurance 515 Credit Card Expense 181 Land 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Rent Expense 191 Buildings 192 Accumulated Depreciation-Building 193 Equipment 194 Accumulated Depreciation-Equipment 534 Insurance Expense 535 Supplies Expense 536 Organizational Expenses LIABILITIES 561 Depreciation Expense-Building 562 Depreciation Expense Equipment 210 Accounts Payable t of Accounts 210 Accounts Payable 221 Notes Payable 226 Interest Payable 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Preferred Stock 312 Paid-In Capital in Excess of Par-Preferred Stock 321 Common Stock 322 Paid-In Capital in Excess of Par-Common Stock 323 Paid-In Capital in Excess of Stated Value-Common Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 20Daalai EQUITY 311 Preferred Stock 312 Paid-In Capital in Excess of Par-Preferred Stock 321 Common Stock 322 Paid-In Capital in Excess of Par-Common Stock 323 Paid-In Capital in Excess of Stated Value-Common Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends a. Journalize the entries to record the purchase treasury stock is recorded at cost) on April 2 Refer to the Chart of Accounts for exact wording of account Miles PAGE 1 JOURNAL DATE DESCRIPTION POSE REE DEBIT CREDIT ACCOUNTINIC FOLATION ASSETS LIANITIES EQUITY 1 Jounalce the entries to record the sale of the stock on June 10 and November 10 Refer to the Chart of Accounts for exact wording of account titles, PAGE 1 JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT ACCANTINO COLTATION ASSETS LLASALITIES EQUITY b. Journalize the entries to record the sale of the stock on June 10 and November 10. Refer to the Chart of Accounts for exact wording of account hitles PAGE 1 JOURNAL ACCOUNTING OUTATION ASSETS HARLES EQUITY DATE DESCRIPTION DEBIT POSTRE CREDIT 1 2 3 4