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)
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)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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