Question
Question: General Electric (GE) repurchased 2,500 shares of its own common stock at $70 per share. Calculate the total amount paid to repurchase the shares
·Question: General Electric (GE) repurchased 2,500 shares of its own common stock at $70 per share. Calculate the total amount paid to repurchase the shares and provide the journal entry to record the repurchase.
Requirements:
- Calculate the total amount paid to repurchase the shares.
- Provide the journal entry to record the repurchase.
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College Accounting A Practical Approach
Authors: Jeffrey Slater
12th edition
978-0132772068, 133468100, 013277206X, 9780133468106, 978-0133133233
