Question
Need help with this problem: Seacrest Corporation has the following stockholders' equity accounts on January 1, 2017: Common Stock, $10 par value $1,500,000 Paid-in Capital
Need help with this problem: Seacrest Corporation has the following stockholders' equity accounts on January 1, 2017:
Common Stock, $10 par value $1,500,000
Paid-in Capital in Excess of Par 200,000
Retained Earnings 500,000
Total Stockholders' Equity $2,200,000
The company uses the cost method to account for treasury stock transactions. During 2017, the following treasury stock transactions occurred:
April 1 Purchased 15,000 shares at $18 per share.
August 1 Sold 5,000 shares at $21 per share.
October 1 Sold 6,000 shares at $15 per share. Instructions
Journalize the treasury stock transactions for 2017.
Seacrast Carporatian han the tollawing codkholders equity eccunis on January 1, 2017 31,500.000 Common Stock $10 par vale Paid-n Total 8100holders Eqauty The company uses the cost method to account far treasry sock traacsors Duing 2017, the followdng 1reaury slock transaciara occurred Apri 1 Puronosed 15,000 sharee at $8 per share August 1 Seld 5 000 shares at 521 pa shars Ocicber1 Seld 8 000 shares al S15 par share
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