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Question Content Area Entries for treasury stock On May 27, Mama Mia Inc. reacquired 79,000 shares of its common stock at $10 per share. On August 3, Mama Mia sold 53,000 of the reacquired shares at $13 per share. On November 14, Mama Mia sold the remaining shares at $8 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. Date Account Debit Credit May 27               Aug. 3                       Nov. 14

Question Content Area Entries for treasury stock On May 27, Mama Mia Inc. reacquired 79,000 shares of its common stock at $10 per share. On August 3, Mama Mia sold 53,000 of the reacquired shares at $13 per share. On November 14, Mama Mia sold the remaining shares at $8 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. Date Account Debit Credit May 27               Aug. 3                       Nov. 14

FINANCIAL ACCOUNTING
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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Entries for treasury stock

On May 27, Mama Mia Inc. reacquired 79,000 shares of its common stock at $10 per share. On August 3, Mama Mia sold 53,000 of the reacquired shares at $13 per share. On November 14, Mama Mia sold the remaining shares at $8 per share.

Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.

Date Account Debit Credit
May 27
 
    
 
 
    
Aug. 3
 
    
 
 
    
 
 
    
Nov. 14
 
    
 
 
    
 
 
    
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