Blue Corporation is authorized to issue 52,000 shares of $5 par value common stock. During 2025, Blue took part in the following selected transactions. a. Issued 4,600 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,600. b. Issued 1,200 shares of stock for land appraised at $52,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the date of issuance. c. Purchased 460 shares of treasury stock at $40 per share. The treasury shares purchased were issued in 2021 at $37 per share. d. Retired the treasury shares purchased in part (c). do full Journal Entries for part D which will contain 4 accounts
Blue Corporation is authorized to issue 52,000 shares of $5 par value common stock. During 2025, Blue took part in the following selected transactions.
a. Issued 4,600 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,600.
b. Issued 1,200 shares of stock for land appraised at $52,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the date of issuance.
c. Purchased 460 shares of
d. Retired the treasury shares purchased in part (c).
do full
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)