Question
Use the following information to answer the next 3 questions about Treasury Stock: Assume that 500,000 shares of $2 par value common stock have been
Use the following information to answer the next 3 questions about Treasury Stock: Assume that 500,000 shares of $2 par value common stock have been authorized by Omega Co. Prepare the necessary journal entries for the following transactions. Treasury Stock Question 1: Omega sells 100,000 shares of common stock at $6 per share. Enter the credit for the higher dollar amount first. Debit Account Name: Blank 1 Dollar Amount: Blank 2 Credit Account Name #1: Blank 3 Dollar Amount #1: Blank 4 Account Name #2: Blank 5 Dollar Amount #2: Blank 6 Blank 1 Add your answer Blank 2 Add your answer Blank 3 Add your answer Blank 4 Add your answer Blank 5 Add your answer Blank 6 Add your answer Question 12 2 Points Save and Close
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