On February 1, 2019, Wild Bill Corporation repurchases 810 shares of its outstanding common stock for $9 per share. On March 1, 2019, Wild Bill sells 260 shares of treasury stock for $12 per share. On May 10, 2019, Wild Bill sells the remaining 550 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1   fill in the blank 2         fill in the blank 4   (Record purchase of treasury shares)     Mar. 1   fill in the blank 6 fill in the blank 7     fill in the blank 9 fill in the blank 10     fill in the blank 12 fill in the blank 13   (Record reissue of treasury shares)     May 10   fill in the blank 15 fill in the blank 16     fill in the blank 18 fill in the blank 19     fill in the blank 21 fill in the blank 22     fill in the blank 24 fill in the blank 25   (Record reissue of treasury shares)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On February 1, 2019, Wild Bill Corporation repurchases 810 shares of its outstanding common stock for $9 per share. On March 1, 2019, Wild Bill sells 260 shares of treasury stock for $12 per share. On May 10, 2019, Wild Bill sells the remaining 550 shares of its treasury stock for $6 per share.

Required:

Prepare the journal entries to record these transactions.

2019 Feb. 1   fill in the blank 2  
      fill in the blank 4
  (Record purchase of treasury shares)    
Mar. 1   fill in the blank 6 fill in the blank 7
    fill in the blank 9 fill in the blank 10
    fill in the blank 12 fill in the blank 13
  (Record reissue of treasury shares)    
May 10   fill in the blank 15 fill in the blank 16
    fill in the blank 18 fill in the blank 19
    fill in the blank 21 fill in the blank 22
    fill in the blank 24 fill in the blank 25
  (Record reissue of treasury shares)
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