Entries for treasury stock On May 27, Hydro Clothing Inc. reacquired 60,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 42,000 of the reacquired shares at $12 per share. On November 14, Hydro Clothing sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
Entries for treasury stock On May 27, Hydro Clothing Inc. reacquired 60,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 42,000 of the reacquired shares at $12 per share. On November 14, Hydro Clothing sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On May 27, Hydro Clothing Inc. reacquired 60,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 42,000 of the reacquired shares at $12 per share. On November 14, Hydro Clothing sold the remaining shares at $6 per share.
Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
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