On April 2, a corporation purchased for cash 6,000 shares of its own $14 par common stock at $27 per share. It sold 4,000 of the treasury shares at $30 per share on June 10. The remaining 2,000 shares were sold on November 10 for $23 per share. a. Journalize the entry for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank April 2 b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10 November 10
On April 2, a corporation purchased for cash 6,000 shares of its own $14 par common stock at $27 per share. It sold 4,000 of the treasury shares at $30 per share on June 10. The remaining 2,000 shares were sold on November 10 for $23 per share. a. Journalize the entry for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank April 2 b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10 November 10
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:On April 2, a corporation purchased for cash 6,000 shares of its own $14 par common stock at $27 per share. It sold 4,000 of the treasury shares at $30 per share on
June 10. The remaining 2,000 shares were sold on November 10 for $23 per share.
a. Journalize the entry for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank
April 2
b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank.
Jun. 10
November 10
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