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The December 31, 2021, balance sheet of MBI Company included the following: Common stock, 20.1 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, 20.1 million shares outstanding at $1 par Paid-in capital-excess of par Retained earnings $ 20,100,000 100,500,000 116,000,000 MBI completed the following transactions in 2021 relating to treasury stock: March 17: Reacquired 2.1 million shares at $10.10. May 17: Reacquired 2.1 million shares at $9.05. August 10: Issued 3.1 million shares at $12.05. 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 1 23 Reacquired 2.1 million shares at $10.10. Note: Enter debits before credits. Date General Journal Debit Credit March 17, 2021 Common stock Paid-in capital - excess of par Retained earnings Cash 2.1000 10.5000 8.6100 21.2100 Record entry Clear entry View general journal Journal entry worksheet Reacquired 2.1 million shares at $9.05. Note: Enter debits before credits. Date General Journal Debit Credit May 17, 2021 Record entry Clear entry View general journal Journal entry worksheet
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