Safari File Edit View History Bookmarks window Help ezta mheducation.com Chegg,

Question

Safari File Edit View History Bookmarks window Help ezta mheducation.com Chegg, The Student Hub I Textbooks, Study Tools, Scholarships, etextbooks & More connect BA 211 Financial Accounting: BA 211-004 F17 ACCOUNTING Week 10 Question 3 (of 7) E11-8 Recording Treasury Stock Transactions and Analyzing Their Impact LO 11-2, LO 11-3 (The following information applies to the questions displayed below The folowing selected transactions occurred for Corner Corporation Feb.1 Purchased July 15 issued 195 of the shares purchased on Fobruary 1 for $49 cash per share. 590 shares of the company's own common stock at $39 cash per share, the stock is now held in treasury Sept 1 Issued 155 more of the shares purchased on Febnuary 1 for $34 cash per share References E11-8 Recording Treasury Stock Transactions and Analyzing Their lmpact [LO 11-2, LO 11-3] Section Break 3. E11-8 Part 2 2. Prepare the indicated jounal entries for each of the transactions. (If no entry is required for a 27

Explanation / Answer

E11-8) Journal entry :

date accounts & explanation Debit Credit Feb 1 Treasury stock a/c (590*39) 23010 Cash a/c 23010 (To record treasury stock purchased) July 15 Cash a/c (195*49) 9555 Treasury stock a/c (195*39) 7605 Paid in capital from sale of treasury stock 1950 (To record sale of treasury stock) Sep 1 Cash a/c (155*34) 5270 Paid in capital from sale of treasury stock 775 Treasury stock a/c (155*39) 6045 (To record sale of treasury stock)

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.