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Question 20 (2 points) Common stock, $10 par (150,000 shares out) Paid-in capital in excess of par Howe Company's balance sheet shows: $1,500,000 750,000
Question 20 (2 points) Common stock, $10 par (150,000 shares out) Paid-in capital in excess of par Howe Company's balance sheet shows: $1,500,000 750,000 Match the following transactions, using the cost method, to the appropriate journal entries. All shares were originally issued at $15 each 1. Treasury Stock (1,000 x $17)..17,000 Cash. Howe sold 250 of the treasury shares at $16 a share. 17,000. Howe sold the remaining 250 of the treasury shares at $18 a share. Common Stock (500x10).. 5,000 2. Paid-in in Excess of Par CS(500x5) 2,500 RE...(500x2) 1,000 Treasury Stock (500x17) 8,500 Cash (250x16). 4,000 3. RE 250 Howe retired 500 shares of treasury stock Treasury Stock 4,250 Cash (250x18). Howe purchased 1,000 shares of its common stock at $17 a share. 4. Paid-in from Treasury Stock. Treasury Stock 4,500. 250 4,250
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