Question
Q16 Hector Company had a retained earnings balance of $58,000 on January 1, 2020. During the year, company had the following treasury stock transactions. Feb.
Q16 Hector Company had a retained earnings balance of $58,000 on January 1, 2020. During the year, company had the following treasury stock transactions.
Feb. 15 Purchased 12,000 shares at $10 per share.
May 6 Sold 5,000 shares at $11.5 per share.
Oct. 14 Sold 4,000 shares at $9.25 per share.
Nov. 29 Sold 3,000 shares at $8 per share.
Hector uses the cost method of accounting for treasury stock. Journalize the treasury stock transactions.
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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv
9th Edition
130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309
