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[The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: February 1 Purchased 500 shares of the companys

[The following information applies to the questions displayed below.]

The following selected transactions occurred for Corner Corporation:

February 1 Purchased 500 shares of the companys own common stock at $30 cash per share; the stock is now held in treasury.
July 15 Issued 150 of the shares purchased on February 1 for $40 cash per share.
September 1 Issued 110 more of the shares purchased on February 1 for $25 cash per share.

Required:

  1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.)

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