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Problem 15-2 (Part Level Submission) Bramble Company had the following stockholders equity as of January 1, 2017. Common stock, $5 par value, 18,200 shares issued
Problem 15-2 (Part Level Submission)
Bramble Company had the following stockholders equity as of January 1, 2017.
Common stock, $5 par value, 18,200 shares issued | $91,000 | |
Paid-in capital in excess of parcommon stock | 299,000 | |
Retained earnings | 320,000 | |
Total stockholders equity | $710,000 |
During 2017, the following transactions occurred.
Feb. 1 | Bramble repurchased 1,990 shares of treasury stock at a price of $17 per share. | |
Mar. 1 | 850 shares of treasury stock repurchased above were reissued at $15 per share. | |
Mar. 18 | 530 shares of treasury stock repurchased above were reissued at $15 per share. | |
Apr. 22 | 580 shares of treasury stock repurchased above were reissued at $19 per share. |
Prepare the journal entries to record the treasury stock transactions in 2017, assuming Bramble uses the cost method. (Credit ac entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the a Date Account Titles and Explanation Debit Credit Mar. 1 Mar. 18
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