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On 1 January 20X1, Grey Corp. issued 386,000 no-par common shares at $4.55 per share. In 205, there were treasury stock transactions. On 15 January
On 1 January 20X1, Grey Corp. issued 386,000 no-par common shares at $4.55 per share. In 205, there were treasury stock transactions. On 15 January 205, the company purchased 4,200 of its own common shares at $4.10 per share to be held as treast stock. On 1 March, 750 of the treasury shares were resold at $5.60. On 15 March, 500 shares were purchased for $2.52. On 31 Mar 850 of the treasury shares were sold for $2.85. The remaining shares were cancelled and retired on 1 June. The balance in retaine earnings was $973,500 prior to these transactions. Required: 1. Provide all 205 entries. (Do not round intermediate calculations and round your final answers to the nearest whole dollar. If I entry is required for a transaction/event, select "No journal entry required" in the first account field.) Calculate the resulting balance in each of the shareholders' equity accounts. (Do not round intermediate calculations and round our final answers to the nearest whole dollar.)
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