Blue Spruce Corp. purchased 2,650 shares of its $10 par value common stock for $120,840 on August 1. It will hold these in thetreasury until resold.Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do notindent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enterO for the amount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being markedincorrect.)DateAccount Titles and ExplanationAug. 1Treasury StockCashDebit120840Credit120840

When Blue Spruce Corp. buys 2,650 shares of its own $10 par common stock for a total of $120,840,…

Answered: Blue Spruce Corp. purchased 2,650…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On July 1, Marin Inc. purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $10 per share.Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a debit amount
On July 1, Sage Hill Inc. purchases 600 shares of its $5 par value common stock for the treasury at a cash price of $8 per share.Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a debit amount
Please journalize the transactions. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.
Pronghorn Corp purchased 2,100 shares of its $10 par value common stock for $79,800 on August 1. It will hold these in the treasury until resold. Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Aug. 1
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Windsor, Inc. issues 8,500 shares of $105 par value preferred stock for cash at $114 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit
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