Question
On May 27, Kick Off Inc. reacquired 80,000 shares of its common stock at $8 per share. On August 3, Kick Off sold 53,000 of
On May 27, Kick Off Inc. reacquired 80,000 shares of its common stock at $8 per share. On August 3, Kick Off sold 53,000 of the reacquired shares at $11 per share. On November 14, Kick Off sold the remaining shares at $6 per share.
Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
| May 27 | Treasury Stock | ||
| Cash | |||
| Aug. 3 | Cash | ||
| Treasury Stock | |||
| Paid-In Capital from Sale of Treasury Stock | |||
| Nov. 14 | Cash | ||
| Paid-In Capital from Sale of Treasury Stock | |||
| Treasury Stock |
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Understanding And Auditing IT Systems Volume 1
Authors: Young-Woon Min
2nd Edition
978-1257124084
