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Zupan Corporation has the following stockholders' equity accounts on January 1, 2019: Common Stock, $10 par value. Paid-in Capital in Excess of Par........... Retained
Zupan Corporation has the following stockholders' equity accounts on January 1, 2019: Common Stock, $10 par value. Paid-in Capital in Excess of Par........... Retained Earnings............ Total Stockholders' Equity... $1,500,000 200,000 500,000 $2,200,000 The company uses the cost method to account for treasury stock transactions. During 2019, the following treasury stock transactions occurred: April 1 Purchased 10,000 shares at $18 per share. August 1 October 1 Sold 4,000 shares at $15 per share. Sold 4,000 shares at $22 per share. Instructions (a) Journalize the treasury stock transactions for 2019. (b) Prepare the Stockholders' Equity section of the balance sheet for Zupan Corporation at December 31, 2019. Assume net income was $110.000 for 2019. Your Answer:
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