Oregon Outfitters issues 1,700 shares of $1 par value common stock at $19 per share. Later in the year, the company decides to purchase 160 shares at a cost of $18 per share. (1) Record the original issue of the 1,700 shares, (2) Record the purchase of 160 shares, and (3) Record the entry if Oregon Outfitters resells the 160 shares of treasury stock at $27 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Oregon Outfitters issues 1,700 shares of $1 par value common stock at $19 per share. Later in the year, the company decides to purchase 160 shares at a cost of $18 per share. (1) Record the original issue of the 1,700 shares, (2) Record the purchase of 160 shares, and (3) Record the entry if Oregon Outfitters resells the 160 shares of treasury stock at $27 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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