Question
On April 2nd a corporation purchased for cash 5,000 shares of its own $10 par common stock at $16 a share. They sold 3,000 of
On April 2nd a corporation purchased for cash 5,000 shares of its own $10 par common stock at $16 a share. They sold 3,000 of the treasury shares at $19 a share on June 15th. The remaining 2,000 shares were sold on November 10th for $12 a share.
(a) Journalize the entries to record the purchase ( treasury stock is recorded at cost).
(b) Journalize the entries to record the sale of the stock.
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Global Financial Accounting And Reporting Principles And Analysis
Authors: Peter Walton, Walter Aerts
4th Edition
1473729521, 9781473729520
