Question
Treasury Stock Journal Entries Prepare the journal entries for each of the events that occurred during the year: Jan 1 Issued 1,200 shares of $5
Treasury Stock Journal Entries
Prepare the journal entries for each of the events that occurred during the year:
Jan 1 Issued 1,200 shares of $5 par value common stock at $15 per share.
| Date | Accounts | Debit | Credit |
| Jan 1 |
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July 15 Purchased 1,000 shares for $19 per share of common stock previously issued on Jan 1st.
| Date | Accounts | Debit | Credit |
| July 15 |
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July 31 Sold 250 shares of its shares repurchased on July 15th for $35 per share.
| Date | Accounts | Debit | Credit |
| July 31 |
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Aug 20 Sold 200 of its shares repurchased on July 15th for $17 per share.
| Date | Accounts | Debit | Credit |
| Aug 20 |
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Aug 31 The board of directors declared a cash dividend for $1.50 per share. The current market price of the stock is $20 per share.
| Date | Accounts | Debit | Credit |
| Aug 31 |
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Sept 1 Board Directors recorded today as the Date of Record for the cash dividend on Aug 31st.
| Date | Accounts | Debit | Credit |
| Sept 1 |
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Sept 5 The cash dividend that was declared on Aug 31st is paid to the common stockholders.
| Date | Accounts | Debit | Credit |
| Sept 5 |
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Dec 31 Purchased 300 shares for $25 per share of common stock previously issued on Jan 1st.
| Date | Accounts | Debit | Credit |
| Dec 31 |
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Accounting For Managers Interpreting Accounting Information For Decision Making
Authors: Paul M. Collier
5th Edition
111900294X, 978-1119002949
