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Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 480 shares of

Required information

[The following information applies to the questions displayed below.]

The following selected transactions occurred for Corner Corporation:

Feb. 1 Purchased 480 shares of the companys own common stock at $28 cash per share; the stock is now held in treasury.
July 15 Issued 140 of the shares purchased on February 1 for $38 cash per share.
Sept. 1 Issued 100 more of the shares purchased on February 1 for $23 cash per share.

Required:

  1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.)

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