On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per share on June 10. The remaining 3,000 shares were sold on November 10 for $24 per share. a. Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank. Apr. 2 b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. June 10 Nov. 10 000 000
On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per share on June 10. The remaining 3,000 shares were sold on November 10 for $24 per share. a. Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank. Apr. 2 b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. June 10 Nov. 10 000 000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11EA: Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share...
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Question
![On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per
share on June 10. The remaining 3,000 shares were sold on November 10 for $24 per share.
a. Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank.
Apr. 2
b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank.
June 10
Nov. 10](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9ecdd586-d90f-4b01-9735-d33df7ee50d8%2Faf8f0df2-b5d3-48e9-8c1f-63b5cb82b918%2Fsizhebh_processed.png&w=3840&q=75)
Transcribed Image Text:On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per
share on June 10. The remaining 3,000 shares were sold on November 10 for $24 per share.
a. Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank.
Apr. 2
b. Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank.
June 10
Nov. 10
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