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[The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 420 shares of the companys
[The following information applies to the questions displayed below.] |
The following selected transactions occurred for Corner Corporation: |
Feb. 1 | Purchased 420 shares of the companys own common stock at $22 cash per share; the stock is now held in treasury. |
July 15 | Issued 110 of the shares purchased on February 1 for $32 cash per share. |
Sept. 1 | Issued 70 more of the shares purchased on February 1 for $17 cash per share. |
Required 1. Indicating the account, amount, and direction of the effectfor the above transactions. (Enter any decreases to account balances with a minus sign.) Answer is not complete 22X Treasury Stock x 22 x Feb. 1 Cash 3.520V July 15 Cash 1.190 Sept. 1 Cash Additional Paid-in Capital, Treasury Stock X 350 Stockholders' Equity 2.420 Treasury Stock Additional Paid-in Capital, Treasury Stock 1,100 Treasury Stock 1.540
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