EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 1,500 shares of its own common stock at $12 per share. Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share. Jun. 12 Reissued 750 shares of common stock at $10 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1 Apr. 10 Jun. 12

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions:

Mar. 1 Purchased 1,500 shares of its own common stock at $12 per share.
Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share.
Jun. 12 Reissued 750 shares of common stock at $10 per share.

Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

Mar. 1   fill in the blank 2 fill in the blank 3
    fill in the blank 5 fill in the blank 6
Apr. 10   fill in the blank 8 fill in the blank 9
    fill in the blank 11 fill in the blank 12
    fill in the blank 14 fill in the blank 15
Jun. 12   fill in the blank 17 fill in the blank 18
    fill in the blank 20 fill in the blank 21
    fill in the blank 23 fill in the blank 24
EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue
1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions:
Mar. 1
Purchased 1,500 shares of its own common stock at $12 per share.
Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share.
Jun. 12 Reissued 750 shares of common stock at $10 per share.
Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.
Mar. 1
Apr. 10
Jun. 12
Transcribed Image Text:EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 1,500 shares of its own common stock at $12 per share. Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share. Jun. 12 Reissued 750 shares of common stock at $10 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Mar. 1 Apr. 10 Jun. 12
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