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Prepare the entries in journal form necessary to record the following stock transactions of Fitzgerald Corporation. These transactions represent all treasury stock transactions entered into
- Prepare the entries in journal form necessary to record the following stock transactions of Fitzgerald Corporation. These transactions represent all treasury stock transactions entered into by the company. (Omit explanations) show work
June | 1 |
| Purchased 5,000 shares of its own $30 par value common stock for $80 per share, the current market price. |
| 10 |
| Sold 500 shares of treasury stock purchased on June 1 for $80 per share |
| 20 |
| Sold 700 shares of treasury stock purchased on June 1 for $58 per share. |
| 30 |
| Retire the balance of treasury stock, assuming the original average issuing price was $48 per share (use the par value method)
|
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