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EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized
EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 3,000 shares of its own common stock at $18 per share. Apr. 10 Reissued 1,500 shares of its common stock held in the treasury for $22 per share. Jun. 12 Reissued 1,500 shares of common stock at $16 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1 Apr. 10 III III II Jun. 12 ll
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