Question
Jason Company originally issued 30,000 ordinary shares with a $5 par for $360,000 on January 10, 2021. Stony purchased 2,000 treasury shares for $28,000 on
Jason Company originally issued 30,000 ordinary shares with a $5 par for $360,000 on January 10, 2021. Stony purchased 2,000 treasury shares for $28,000 on March 15, 2021. On May 8, 2021, 1,000 treasury shares are sold for $19,000
Instructions
Prepare journal entries to record these share transactions.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
