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Exercise 10-65 (Algorithmic) Treasury Stock Transactions Ebenezer Consulting had no treasury stock at the beginning of the year. During January, Ebenezer purchased 6,900 shares of treasury stock at $21 per share. In April, Ebenezer sold 4,100 of the treasury shares for $25 per share. In August, Ebenezer sold the remaining treasury shares for $20 per share. Required: Prepare journal entries for the January, April, and August treasury stock transactions. January: April: August: (Record purchase of treasury shares) (Record reissue of treasury shares) (Record reissue of treasury shares)

Exercise 10-65 (Algorithmic) Treasury Stock Transactions Ebenezer Consulting had no treasury stock at the beginning of the year. During January, Ebenezer purchased 6,900 shares of treasury stock at $21 per share. In April, Ebenezer sold 4,100 of the treasury shares for $25 per share. In August, Ebenezer sold the remaining treasury shares for $20 per share. Required: Prepare journal entries for the January, April, and August treasury stock transactions. January: April: August: (Record purchase of treasury shares) (Record reissue of treasury shares) (Record reissue of treasury shares)

FINANCIAL ACCOUNTING
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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Exercise 10-65 (Algorithmic) Treasury Stock Transactions Ebenezer Consulting had no treasury stock at the beginning of the year. During January, Ebenezer purchased 6,900 shares of treasury stock at $21 per share. In April, Ebenezer sold 4,100 of the treasury shares for $25 per share. In August, Ebenezer sold the remaining treasury shares for $20 per share. Required: Prepare journal entries for the January, April, and August treasury stock transactions. January: April: August: (Record purchase of treasury shares) (Record reissue of treasury shares) (Record reissue of treasury shares)
Transcribed Image Text:Exercise 10-65 (Algorithmic) Treasury Stock Transactions Ebenezer Consulting had no treasury stock at the beginning of the year. During January, Ebenezer purchased 6,900 shares of treasury stock at $21 per share. In April, Ebenezer sold 4,100 of the treasury shares for $25 per share. In August, Ebenezer sold the remaining treasury shares for $20 per share. Required: Prepare journal entries for the January, April, and August treasury stock transactions. January: April: August: (Record purchase of treasury shares) (Record reissue of treasury shares) (Record reissue of treasury shares)
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