Question
pu) In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: March 17: May 17: Reacquired 80,000 shares at $10 Sold
pu) In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: March 17: May 17: Reacquired 80,000 shares at $10 Sold 20,000 shares at $14. Sold 25,000 shares at $5 Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Required: Prepare the journal entries to record the above transactions.
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Financial Reporting Financial Statement Analysis and Valuation
Authors: Clyde P. Stickney
6th edition
324302959, 978-0324302967, 324302967, 978-0324302950
