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Thomas company has 10,000 shares of $10 par common stock outstanding. Journalize the following stock-related transactions on the journal entry form below. Show all calculations
Thomas company has 10,000 shares of $10 par common stock outstanding. Journalize the following stock-related transactions on the journal entry form below. Show all calculations to get credit.
(a) | Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares. |
(b) | Sold 500 shares of treasury stock at $15. |
(c) | Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. |
(d) | Sold 500 shares of treasury stock at $11. |
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