Kagel Corporation had 30,000 shares of $5 par value common stock issued and outstanding on December 31, 20x7. Each share was issued during 20x5 at $14 per share. Prepare entries in journal form without explanations for the following transactions occurring in 20x8: Jan. 4 Purchased 5,000 shares of treasury stock for $16 per share. This is the first transaction involving its own stock ever engaged in by the company. 31 Sold 1,000 shares of treasury stock for $15 per share. Feb. 20 Sold 1,000 shares of treasury stock for $18 per share. Mar. 16 Sold 1,000 shares of treasury stock for $11 per share. Apr. 5 Retired 2,000 shares of treasury stock. May 8 Purchased 500 shares of treasury stock for $12 per share. 31 Retired the 500 shares of treasury stock purchased on May 8.
.Kagel Corporation had 30,000 shares of $5 par value common stock issued and outstanding on December 31, 20x7. Each share was issued during 20x5 at $14 per share. Prepare entries in journal form without explanations for the following transactions occurring in 20x8:
|
Jan. |
4 |
|
Purchased 5,000 shares of |
|
|
31 |
|
Sold 1,000 shares of treasury stock for $15 per share. |
|
Feb. |
20 |
|
Sold 1,000 shares of treasury stock for $18 per share. |
|
Mar. |
16 |
|
Sold 1,000 shares of treasury stock for $11 per share. |
|
Apr. |
5 |
|
Retired 2,000 shares of treasury stock. |
|
May |
8 |
|
Purchased 500 shares of treasury stock for $12 per share. |
|
|
31 |
|
Retired the 500 shares of treasury stock purchased on May 8. |
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