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On January 1 , 2 0 2 0 , the stockholders' equity section of Kingbird, Inc. shows common stock ( $ 6 par value )
On January the stockholders' equity section of Kingbird, Inc. shows common stock $ par value $; paidin capital
in excess of par $; and retained earnings $ During the year, the following treasury stock transactions occurred.
Mar. Purchased shares for cash at $ per share.
July Sold treasury shares for cash at $ per share.
Sept. Sold treasury shares for cash at $ per share.
a
Your answer is correct.
Journalize the treasury stock transactions. Record journal entries in the order presented in the problem. Credit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and
enter ofor the amounts.
Account Titles and ExplanationOn january the stockholders equity section of Kingbird, Inc. shows common stock $ par value $; paid in capital in excess of par $; and retained earnings of $ During the year, the following treasury stock transactions occured.
March : Purchased shares for cash at $ per share
July : Sold treasury shares for cash at $ per share
September : sold treasury shares for cash at $ per share.
Journalize the treasury stock transactions.
March :
Treasury Stock
Cash
July :
Cash
Treasury Stock credit
Paidin Capital from Treasury Stock credit
Sept :
Cash
Paid in capital from treasury stock debited
Treasury stock: credited
Restate the entry for September st assuming the treasury shares were sold at dollars per share. There are four accounts.
There are four accounts. This is what we have so far that is correct. Fill in the blanks.
Cash: debit
Paid in capital from treasury stock :
:
:
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