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oblem 6.(6 pts) Grey, Inc. articles of incorporation authorized the issuance of 130,000 common shares. The transactions described below effected changes in Grey, Inc.'s
oblem 6.(6 pts) Grey, Inc. articles of incorporation authorized the issuance of 130,000 common shares. The transactions described below effected changes in Grey, Inc.'s outstanding shares. Prior to the transactions, Grey, Inc.'s shareholders' equity included the following: Shareholders' Equity Common stock, $2 par Paid-in capital-excess of par Retained earnings $100,000 300,000 210,000 Grey entered into the following treasury stock transactions during 2021. Record the appropriate journal entry for each of the following transactions: a. On January 7, Grey, Inc. reacquired 20,000 shares at $7.00 per share. b. On August 23, Grey, Inc. sold 8,000 treasury shares at $9 per share. After the sale of the 8,000 shares, what are the balances of the paid in capital accounts, list the accounts and their balances. Account Balance
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