Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to purchase 100 shares of its common stock on the open market. On July 1, the company sold 50 of these shares at $52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share. Complete the journal entry for the sale of the treasury stock on July 1 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to purchase 100 shares of its common stock on the open market. On July 1, the company sold 50 of these shares at $52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share. Complete the journal entry for the sale of the treasury stock on July 1 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 9P
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Question
![Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to
purchase 100 shares of its common stock on the open market. On July 1, the company sold 50 of these shares at
$52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share.
Complete the journal entry for the sale of the treasury stock on July 1 by selecting the account names from the
drop-down menus and entering the dollar amounts in the debit or credit columns.
View transaction list
Journal entry worksheet
1
Prior to June 1, Sandler Company had no treasury stock transactions. Then, on
June 1, the company paid $5,000 to purchase 100 shares of its common stock
on the open market. On July 1, the company sold 50 of these shares at $52
per share. Then, on August 1, the company sold the remaining 50 shares at
Note: Enter debits before credits.
Date
July 01
General Journal
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F96ccea39-6e20-4e83-b9fb-b22d2ae10407%2F4a3ab3aa-6346-4dbc-8b8e-3f2e5c42af73%2Fccovplp_processed.png&w=3840&q=75)
Transcribed Image Text:Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to
purchase 100 shares of its common stock on the open market. On July 1, the company sold 50 of these shares at
$52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share.
Complete the journal entry for the sale of the treasury stock on July 1 by selecting the account names from the
drop-down menus and entering the dollar amounts in the debit or credit columns.
View transaction list
Journal entry worksheet
1
Prior to June 1, Sandler Company had no treasury stock transactions. Then, on
June 1, the company paid $5,000 to purchase 100 shares of its common stock
on the open market. On July 1, the company sold 50 of these shares at $52
per share. Then, on August 1, the company sold the remaining 50 shares at
Note: Enter debits before credits.
Date
July 01
General Journal
Debit
Credit
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