Question
On January 1, 2015, the stockholders equity section of Jaja Corporation shows: common stock ($5 par value) $2,000,000; paid-in capital in excess of par value
On January 1, 2015, the stockholders equity section of Jaja Corporation shows: common stock ($5 par value) $2,000,000; paid-in capital in excess of par value $1,200,000; and retained earnings $1,400,000. During the year, the following treasury stock transactions occurred.
Mar. 1 Purchased 60,000 shares for cash at $18 per share.
July 1 Sold 15,000 treasury shares for cash at $19 per share.
Sept. 1 Sold 10,000 treasury shares for cash at $17 per share.
Instructions:
- Journalize the treasury stock transactions.
| General Journal | ||||
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Modern Auditing
Authors: William C Boynton, Raymond N Johnson
8th Edition
0471230111, 978-0471230113
