Coronado Corporation has outstanding 22,000 shares of $ reacquired 190 shares at $82 per share. On November 1, C previous treasury stock transactions. Prepare Coronado's journal entries to record these transac account titles are automatically indented when the amount is e account titles.
Coronado Corporation has outstanding 22,000 shares of $ reacquired 190 shares at $82 per share. On November 1, C previous treasury stock transactions. Prepare Coronado's journal entries to record these transac account titles are automatically indented when the amount is e account titles.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject: acounting
Transcribed Image Text:Coronado Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2025, Coronado
reacquired 190 shares at $82 per share. On November 1, Coronado reissued the 140 shares at $71 per share. Coronado had no
previous treasury stock transactions.
Prepare Coronado's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit
account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the
account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.)
Date
3/1/25
11/1/25
Account Titles and Explanation
Treasury Stock
Cash
Cash
Retained Earnings
Treasury Stock
Debit
15580
9940
5640
Credit
15580
10
15580
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