Johnny Deng, Incorporated initially issued 240,000 shares of $1 par stock for $1,200,000 in 2022. In 2023, the company repurchased 24,000 shares for $240,000. In 2024, 12,000 of the repurchased shares were resold for $192,000. In its balance sheet dated December 31, 2024, Johnny Deng, Incorporated's treasury stock account shows a balance of:
Johnny Deng, Incorporated initially issued 240,000 shares of $1 par stock for $1,200,000 in 2022. In 2023, the company repurchased 24,000 shares for $240,000. In 2024, 12,000 of the repurchased shares were resold for $192,000. In its balance sheet dated December 31, 2024, Johnny Deng, Incorporated's treasury stock account shows a balance of:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Johnny Deng, Incorporated initially issued 240,000 shares of $1 par stock for $1,200,000 in 2022. In 2023, the company repurchased 24,000 shares for $240,000. In 2024, 12,000 of the repurchased shares were resold for $192,000. In its
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