Question
Required: Record the following stock for the Penny Company: A) On May 2, 2016, Penny issued 150,000 shares of $10 par common stock for $1,800,000.
Required: Record the following stock for the Penny Company:
A) On May 2, 2016, Penny issued 150,000 shares of $10 par common stock for $1,800,000.
B) On January 5, 2019 Penny purchased 6,000 shares of treasury shares for $15 per share.
C) April 3, 2019 Penny reissued 3,000 shares of treasury stock for $19 per share.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
8th edition
978-1118953815, 978-1118953907
