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Nash Company had the following stockholders' equity as of January 1, 2017. During 2017, the following transactions occurred. Feb. 1 Nash repurchased 1, 830 shares
Nash Company had the following stockholders' equity as of January 1, 2017. During 2017, the following transactions occurred. Feb. 1 Nash repurchased 1, 830 shares of treasury stock at a price of $19 per share. Mar. 1 740 shares of treasury stock repurchased above were reissued at $17 per share. Mar. 18 490 shares of treasury stock repurchased above were reissued at $14 per share. Apr. 22 530 shares of treasury stock repurchased above were reissued at $21 per share. (a) Prepare the journal entries to record the treasury stock transactions in 2017, assuming Nash 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 0 for the amounts.)
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