PB5. LO 14.2 Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue 3,000,000 shares of $40 par value 9% preferred stock. It is also authorized to issue 3,750,000 shares of $2 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 2,000 shares of its own common stock at $15 per share Apr. 10 Reissued 1,000 shares of its common stock held in the treasury for $18 per share. Jun. 12 Reissued 1,000 shares of common stock at $12 per share Journalize the transactions.

PB5. LO 14.2 Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue 3,000,000 shares of $40 par value 9% preferred stock. It is also authorized to issue 3,750,000 shares of $2 par value common stock. In its fifth year, the corporation has the following transactions: Mar. 1 Purchased 2,000 shares of its own common stock at $15 per share Apr. 10 Reissued 1,000 shares of its common stock held in the treasury for $18 per share. Jun. 12 Reissued 1,000 shares of common stock at $12 per share Journalize the transactions.

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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