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Larkspur Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par value, 18,400 shares issued Paid-in capital in excess of
Larkspur Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par value, 18,400 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $92,000 295,000 313,000 $700,000 During 2017, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Larkspur repurchased 1,970 shares of treasury stock at a price of $20 per share. 770 shares of treasury stock repurchased above were reissued at $18 per share. 510 shares of treasury stock repurchased above were reissued at $15 per share. 560 shares of treasury stock repurchased above were reissued at $21 per share. Your answer is partially correct. Try again. Prepare the journal entries to record the treasury stock transactions in 2017, assuming Larkspur uses the cost method. (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.) con method credit countertes are autor Date Account Titles and Explanation Debit Credit Feb. 1 Treasury Stock 39400 T Cash T 39400 Mar. 1 Cash 13860 Paid-in Capital from Treasury Stock 770 Treasury Stock 15400 Mar. 18 Tooch Cash 525 Paid-in Capital from Treasury Stock 1530 Treasury Stock 10200 Apr. 22 Tcash 11760 Paid-in Capital from Treasury Stock 1680 Treasury Stock 11200 Your answer is partially correct. Try again. Prepare the stockholders' equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $140,400. (Enter account name only and do not provide descriptive information.) LARKSPUR COMPANY Stockholders' Equity April 30, 2017 Prepare the stockholders' equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $140,400. (Enter account name only and do not provide descriptive information.) LARKSPUR COMPANY Stockholders' Equity April 30, 2017 Common Stock 92,000 7 Paid-in Capital in Excess of Par - Common Stock 295,000 Paid-in Capital from Treasury Stock T 920 T Total Paid-in Capital 387920 Retained Earnings DO OTECA less. Less -6800 Treasury Stock Total Stockholders' Equity
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