On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 400 shares of the treasury stock for cash at $13 per share. Journalize the two 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 July 1 Account Titles and Explanation Debit Credit
On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 400 shares of the treasury stock for cash at $13 per share. Journalize the two 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 July 1 Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share.
On September 1, it sells 400 shares of the treasury stock for cash at $13 per share.
Journalize the two 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
July 1 V
Sept. 1 V
Account Titles and Explanation
eTextbook and Media
Debit
Credit
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