Question
Journalize the following transactions that Accurate Corp. conducted during 2020: Feb. 7 Issued 18,000 common shares at $17.00 per share. Apr. Jun. 8 Repurchased 2,200
Journalize the following transactions that Accurate Corp. conducted during 2020: Feb. 7 Issued 18,000 common shares at $17.00 per share. Apr. Jun. 8 Repurchased 2,200 common shares at $20.00 per share. The average issue price of these shares was $22.00. 2 Repurchased 1,700 common shares at $25.00 per share. The average issue price of the shares was $22.00. Feb. 19. Issued 18,000 common shares at $17.00 per share. (Record debits first, then credits. Explanations are not required.) Date Feb. 7 Cash Cash Common Shares Apr. 8. Repurcha Retained Earnings Journal Entry Accounts Debit Credit 306000 306000 Contributed Surplus-Share Repurchase age issue price of these shares was $22.00
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