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Question 5 0.5/1 View Policies Show Attempt History Current Attempt in Progress Splish Company had the following stockholders' equity as of January 1, 2020. Common
Question 5 0.5/1 View Policies Show Attempt History Current Attempt in Progress Splish Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 18,800 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $94,000 298,000 319,000 $711,000 During 2020, the following transactions occurred. Feb. 1 Splish repurchased 2,100 shares of treasury stock at a price of $21 per share. Mar. 1 780 shares of treasury stock repurchased above were reissued at $19 per share. Mar. 18 510 shares of treasury stock repurchased above were reissued at $13 per share. Apr. 22 590 shares of treasury stock repurchased above were reissued at $23 per share. Your answer is correct. Prepare the journal entries to record the treasury stock transactions in 2020, assuming Splish uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Date Feb. 1 Account Titles and Explanation Treasury Stock 44100 Cash 44100 Mar. 1 Cash 14820 Retained Earnings 1560 Treasury Stock 16380 Mar. 18 Cash 6630 Retained Earnings 4080 Treasury Stock 10710 Apr. 22 Cash 13570 Treasury Stock 12390 Paid-in Capital from Treasury Stock 1180 (b) Prepare the stockholders' equity section as of April 30, 2020. Net income for the first 4 months of 2020 was $129,100. (Enter account name only and do not provide descriptive information.) SPLISH COMPANY Stockholders' Equity
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