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[The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 490 shares of the companys
[The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 490 shares of the companys own common stock at $29 cash per share; the stock is now held in treasury. July 15 Issued 145 of the shares purchased on February 1 for $39 cash per share. Sept. 1 Issued 105 more of the shares purchased on February 1 for $24 cash per share. Prepare journal entries for each of the transactions.
- Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
- Record the purchase of 490 shares of previously issued common stock for a price of $29 per share.
- Record the re-issuance of 145 shares of treasury stock previously purchased for a price of $29 per share and sold for a price of $39 per share.
- Record the re-issuance of 105 shares of treasury stock previously purchased for a price of $29 per share and sold for a price of $24 per share.
Note: Enter debits before credits.
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