Marigold Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2025, Marigold reacquired 210 shares at $80 per share. On November 1, Marigold reissued the 160 shares at $68 per share. Marigold had no previous treasury stock transactions. Prepare Marigold's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Record entries in the order displayed in the problem statement.) Date /1/25 11/1/25 Account Titles and Explanation Treasury Stock Cash Cash Retained Earnings Treasury Stock Debit 16800 5920 Credit 16800 16800
Marigold Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2025, Marigold reacquired 210 shares at $80 per share. On November 1, Marigold reissued the 160 shares at $68 per share. Marigold had no previous treasury stock transactions. Prepare Marigold's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Record entries in the order displayed in the problem statement.) Date /1/25 11/1/25 Account Titles and Explanation Treasury Stock Cash Cash Retained Earnings Treasury Stock Debit 16800 5920 Credit 16800 16800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Marigold Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2025, Marigold
reacquired 210 shares at $80 per share. On November 1, Marigold reissued the 160 shares at $68 per share. Marigold had no previous
treasury stock transactions.
Prepare Marigold's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit
account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the
account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.)
Date
(1/25
11/1/25
Account Titles and Explanation
Treasury Stock
Cash
Cash
Retained Earnings
Treasury Stock
Debit
16800
10⁰
5920
25
Credit
16800
16800
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