Question
On January 4, of the Current Year Berta Inc. reacquired 5,000 shares of its common stock at $100 per share. On May 17 Berta Sold
On January 4, of the Current Year Berta Inc. reacquired 5,000 shares of its common stock at $100 per share. On May 17 Berta Sold 4,000 of the reaquired shares at $120 per share. The remaining 1,000 shares were sold at $98 per share on December 15.
REQUIRED: 1. Journalize the transaction of January 4, and December 15.
2.What is the balance in Paid-in Capital from sale of treasury stock on December 31, of the current year?
3. Why might Barefoot Bay Inc, have purchased treasury stock?
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Financial Accounting In An Economic Context
Authors: Jamie Pratt
7th Edition
0470128828, 978-0470128824
