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The December 31, 2021, balance sheet of MBI Company included the following: Common stock, 19.9 million shares outstanding at $1 par Paid-in capital-excess of par
The December 31, 2021, balance sheet of MBI Company included the following: Common stock, 19.9 million shares outstanding at $1 par Paid-in capital-excess of par Retained earnings $ 19,900,000 99,500,000 114,000,000 MBI completed the following transactions in 2021 relating to treasury stock: March 17: Reacquired 1.9 million shares at $9.90. May 17: Reacquired 1.9 million shares at $8.95. August 10: Issued 2.9 million shares at $11.95. Required: Prepare journal entries to record the foregoing transactions on a weighted average basis. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 4 decimal places (.e., 5,555,000 should be entered as 5.5550).)
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