It\'s all one question. The following selected transactions occurred for Comer C

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It's all one question.

The following selected transactions occurred for Comer Corporation: Feb. 1 Purchased 470 shares of the company's awn common stock at $27 cash per share; the stock is July 15 Issued 135 of the shares purchased on February 1for $37 cash per share now held in treasry Sept 1 Issued 95 more of the shares purchased on Febnuary 1 for $22 cash per share References Section Break E11-8 Recording Treasury Stock Transactions and Analyzing Their Impact (LO 11- 2, LO 11-3) Required information 1.00 points E11-8 Part 1 Required 1· indicating the account, amount, and drection of the effect for the above transactions. Enter any decreases to account balances with a minus sign) Assets Feb. 1 July 15 Sept. 1

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It is appearent that there are 4 sub question but 2 amoung them are similar qnestions. Please do consider the matter if required.

Effect of above treasury stock transation: situation 1: When company purchases own equity When the company purchase own euqity the shareholders liability decreases and Asset decreases by way of cash. situation 2: When company sells own equity When the company issues own euqity the shareholders liability increases and Asset increases as cash flows in. Solution to E11-8 Part 1 Asset = Liability + Share holders fund Date Particulars Amount Particulars Amount Particulars Amount 1-Feb Cash Account -12690 Own stock account -12690 (470shares*27/share) (470shares*27/share) 15-Jul Cash Account 4995 Own stock account 4995 (135shares*37/share) (135shares*37/share) 1-Sep Cash Account 2090 Own stock account 2090 (95shares*22/share) (95shares*22/share)

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