Question
On May 27, Let Loose Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Let Loose sold 54,000 of
On May 27, Let Loose Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Let Loose sold 54,000 of the reacquired shares at $11 per share. On November 14, Let Loose 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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Introduction To Managerial Accounting
Authors: Peter C. Brewer, Ray H. Garrison, Eric W. Noreen
2nd Edition
0072922990, 9780072922998
