ACCT 2210*02 Prin. of Acct 2 (Fall 17) Take &Test-harris; atz-Internet Explorer

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ACCT 2210*02 Prin. of Acct 2 (Fall 17) Take &Test-harris; atz-Internet Explorer Ohtps//www Test asptestid-17 ACCT 2210-02 Prin of Acct 2 (Fall 17) Test: ACCT 2210*02 EXAM 2 This Question: 20 pts 160123 (9 complete) Discount Center Furniture, Inc completed the following treasury stock transactions in 2018 (Cick the icon to view the transactions ) Requirements 1. Journalize these transactions Explanations are not required 2. How Dscount Center Furnture. Inc. report treasury stock on its balance sheet as of December 31, 20137 Requirement 1. Jounaize these transactions. (Recoed debits first, then credits. Exclude explanations from any journal entries) Dec. 1: Purchased 1,400 shares of the company's $1 par value common stock as treasury stock, paying cash of 56 per share Date Accounts Debit Credit Dec. 1 Cash Dec 15: Sold 300 shares of the treasury stock for cash of $9 par share Date Accounts Debit Credit Dec. 15 Choose from any list or enter any number in the input fields and then continue to the next question Al A . Koht's Corporation's Annual Report hetp Ncorporate kohls "Please note that for permissions reasons, we cannot link directly to these pages. Please copy and paste the URL into your browser address bar to access the reports.

Explanation / Answer

dec 1

Treasury stock- common Dr 8400

(1400 *6 )

Cr cash 8400

Dec 15

Cash ( 300 * 9) Dr 2700

Cr treasury stock- common ( 300*6) 1800

Cr paid in capital from treasury stck 900

treasury stock will report in retained earnings on the balance sheet added to the stock holders equity

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