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The December 31, 2021, balance sheet of MBI Company included the following: Common stock, 20.6 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, 20.6 million shares outstanding at $1 par Paid-in capital-excess of par Retained earnings $ 20,600,000 103,000,000 121,000,000 MBI completed the following transactions in 2021 relating to treasury stock: March 17: Reacquired 2.6 million shares at $10.60. May 17: Reacquired 2.6 million shares at $9.30. August 10: Issued 3.6 million shares at $12.30. 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 (i.e., 5,555,000 should be entered as 5.5550).) View transaction list Journal entry worksheet 13 1 2 3 Reacquired 2.6 million shares at $10.60. Note: Enter debits before credits. Date March 17, 2021 General Journal Debit Credit Record entry Clear entry View general journal Required: Prepare journal entries to record the foregoing transactions on a weighted average basis. (Do not round no entry is required for a transaction/event, select "No journal entry required" in the first account fielc millions rounded to 4 decimal places (i.e., 5,555,000 should be entered as 5.5550).) View transaction list Journal entry worksheet < 1 2 3 Reacquired 2.6 million shares at $9.30. Note: Enter debits before credits. Date May 17, 2021 General Journal Debit Credit View general journal Record entry Clear entry >. View transaction list Journal entry worksheet < 1 2 3 Issued 3.6 million shares at $12.30. Note: Enter debits before credits. Date August 10, 2021 General Journal Debit Credit Record entry Clear entry View general journal >>
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