On April 2 a corporation purchased for cash 7,000 shares of its own $12 par common stock at $27 per share. It sold 4,000 of
On April 2 a corporation purchased for cash 7,000 shares of its own $12 par common stock at $27 per share. It sold 4,000 of the treasury shares at $30 per share on June 10. The remaining 3000 shares were sold on November 10 for $23 per share.
a. Journalize the entries to record the purchase (treasury stock is recorded at cost).
| Apr. 2 | |||
b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank.
| Jun. 10 | |||
| Nov. 10 | |||
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Authors: Charles T. Horngren, Foster George, Srikand M. Datar, Maureen P. Gowing
5th Canadian Edition
0135004934, 978-0135004937
