On January 1, 2022, the stockholders' equity section of Bramble Corporation shows common stock ($6 par value) $1,800,000; paid-in capital in excess of par $1,050,000; and retained earnings $1,230,000. During the year, the following treasury stock transactions occurred. Mar. July 1 Purchased 51,000 shares for cash at $15 per share. Sold 12,000 treasury shares for cash at $17 per share. Sold 10,000 treasury shares for cash at $14 per share. 1 Sept. 1
On January 1, 2022, the stockholders' equity section of Bramble Corporation shows common stock ($6 par value) $1,800,000; paid-in capital in excess of par $1,050,000; and retained earnings $1,230,000. During the year, the following treasury stock transactions occurred. Mar. July 1 Purchased 51,000 shares for cash at $15 per share. Sold 12,000 treasury shares for cash at $17 per share. Sold 10,000 treasury shares for cash at $14 per share. 1 Sept. 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![On January 1, 2022, the stockholders' equity section of Bramble Corporation shows common stock ($6 par value) $1,800,000; paid-in
capital in excess of par $1,050,000; and retained earnings $1,230,000. During the year, the following treasury stock transactions
occurred.
Mar.
1 Purchased 51,000 shares for cash at $15 per share.
1 Sold 12,000 treasury shares for cash at $17 per share.
Sold 10,000 treasury shares for cash at $14 per share.
July
Sept. 1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8dbcbf0b-9123-4a1c-9796-89fa34227664%2Fc2b42ff0-b9aa-4f3a-84f6-054133f1b8cc%2F4jvsc7f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, 2022, the stockholders' equity section of Bramble Corporation shows common stock ($6 par value) $1,800,000; paid-in
capital in excess of par $1,050,000; and retained earnings $1,230,000. During the year, the following treasury stock transactions
occurred.
Mar.
1 Purchased 51,000 shares for cash at $15 per share.
1 Sold 12,000 treasury shares for cash at $17 per share.
Sold 10,000 treasury shares for cash at $14 per share.
July
Sept. 1
![(a)
Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the
problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
>
>
Account Titles and Explanation
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8dbcbf0b-9123-4a1c-9796-89fa34227664%2Fc2b42ff0-b9aa-4f3a-84f6-054133f1b8cc%2Fjc80llk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:(a)
Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the
problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
>
>
Account Titles and Explanation
Debit
Credit
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