ements - ACCT1210: F x CengageNOWv2 | Online teachin Cengage x Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Shared album - Dor.. Johnson & Wales P.. 3 Log Into JWU top There's racial bias i. Grammar Checker More Than Half Of.. Calculator eBook Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 270 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 6,930 2019 Feb. 1 Treasury Stock 6,930 Cash (Record purchase of treasury shares) 3,240 Cash Mar. 1 2,430 Treasury Stock Additional Pald-In Capital - Treasury Stock (Record reissue of treasury shares) 3,000 Cash May 10 Additional Paid-In Capital - Treasury Stock Retalned Earnings 4,500 Treasury Stock (Record reissue of treasury shares) Next Previous

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ements - ACCT1210: F x
CengageNOWv2 | Online teachin
Cengage
x
Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
Shared album - Dor..
Johnson & Wales P..
3 Log Into JWU
top There's racial bias i.
Grammar Checker
More Than Half Of..
Calculator
eBook
Cornerstone Exercise 10-28 (Algorithmic)
Accounting for Treasury Stock
On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells
270 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share.
Required:
Prepare the journal entries to record these transactions.
6,930
2019 Feb. 1 Treasury Stock
6,930
Cash
(Record purchase of treasury shares)
3,240
Cash
Mar. 1
2,430
Treasury Stock
Additional Pald-In Capital - Treasury Stock
(Record reissue of treasury shares)
3,000
Cash
May 10
Additional Paid-In Capital - Treasury Stock
Retalned Earnings
4,500
Treasury Stock
(Record reissue of treasury shares)
Next
Previous
Transcribed Image Text:ements - ACCT1210: F x CengageNOWv2 | Online teachin Cengage x Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Shared album - Dor.. Johnson & Wales P.. 3 Log Into JWU top There's racial bias i. Grammar Checker More Than Half Of.. Calculator eBook Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 270 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 6,930 2019 Feb. 1 Treasury Stock 6,930 Cash (Record purchase of treasury shares) 3,240 Cash Mar. 1 2,430 Treasury Stock Additional Pald-In Capital - Treasury Stock (Record reissue of treasury shares) 3,000 Cash May 10 Additional Paid-In Capital - Treasury Stock Retalned Earnings 4,500 Treasury Stock (Record reissue of treasury shares) Next Previous
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