On April 2 a corporation purchased for cash 5,000 shares of its own $13 par common stock at $26 per share. It sold 3,000 of the treasury shares at $29 per share on June 10. The remaining 2000 shares were sold on November 10 for $22 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 fill in the blank a5807602402bfa1_2 fill in the blank a5807602402bfa1_4 b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank.
On April 2 a corporation purchased for cash 5,000 shares of its own $13 par common stock at $26 per share. It sold 3,000 of the treasury shares at $29 per share on June 10. The remaining 2000 shares were sold on November 10 for $22 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 fill in the blank a5807602402bfa1_2 fill in the blank a5807602402bfa1_4 b. Journalize the entries to record the sale of the stock. 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 April 2 a corporation purchased for cash 5,000 shares of its own $13 par common stock at $26 per share. It sold 3,000 of the treasury shares at $29 per share on June 10. The remaining 2000 shares were sold on November 10 for $22 per share.
a.
| Apr. 2 | fill in the blank a5807602402bfa1_2 | ||
| fill in the blank a5807602402bfa1_4 |
b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank.
| Jun. 10 | fill in the blank 2f1ded0c8043f90_2 | fill in the blank 2f1ded0c8043f90_3 | |
| fill in the blank 2f1ded0c8043f90_5 | fill in the blank 2f1ded0c8043f90_6 | ||
| fill in the blank 2f1ded0c8043f90_8 | fill in the blank 2f1ded0c8043f90_9 | ||
| Nov. 10 | fill in the blank 2f1ded0c8043f90_11 | fill in the blank 2f1ded0c8043f90_12 | |
| fill in the blank 2f1ded0c8043f90_14 | fill in the blank 2f1ded0c8043f90_15 | ||
| fill in the blank 2f1ded0c8043f90_17 | fill in the blank 2f1ded0c8043f90_18 |
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