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Stock transactions for Careful Driving School, Inc. follow: (Click the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4: Issued 29,000 shares of $1 par value common stock at $12 per share. Date Accounts and Explanation Mar. 4 Date May 22 Cash May 22: Purchased 1,000 shares of treasury stock-common at $13 per share. Accounts and Explanation Sep. 22 Common Stock-$1 Par Value Paid-In Capital in Excess of Par-Common Issued common stock for cash. Treasury Stock-Common Cash Purchased treasury stock. Sep. 22: Sold 700 shares of treasury stock-common at $18 per share. Date Accounts and Explanation More info Mar. 4 May 22 Sep. 22 Oct. 14 Debit 348,000 Debit 13,000 Debit Issued 29,000 shares of $1 par value common stock at $12 per share. Purchased 1,000 shares of treasury stock-common at $13 per share. Sold 700 shares of treasury stock-common at $18 per share. Sold 300 shares of treasury stock-common at $8 per share. Credit 29,000 319,000 Credit 13,000 Credit X

Stock transactions for Careful Driving School, Inc. follow: (Click the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4: Issued 29,000 shares of $1 par value common stock at $12 per share. Date Accounts and Explanation Mar. 4 Date May 22 Cash May 22: Purchased 1,000 shares of treasury stock-common at $13 per share. Accounts and Explanation Sep. 22 Common Stock-$1 Par Value Paid-In Capital in Excess of Par-Common Issued common stock for cash. Treasury Stock-Common Cash Purchased treasury stock. Sep. 22: Sold 700 shares of treasury stock-common at $18 per share. Date Accounts and Explanation More info Mar. 4 May 22 Sep. 22 Oct. 14 Debit 348,000 Debit 13,000 Debit Issued 29,000 shares of $1 par value common stock at $12 per share. Purchased 1,000 shares of treasury stock-common at $13 per share. Sold 700 shares of treasury stock-common at $18 per share. Sold 300 shares of treasury stock-common at $8 per share. Credit 29,000 319,000 Credit 13,000 Credit X

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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Stock transactions for Careful Driving School, Inc. follow: i (Click the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4: Issued 29,000 shares of $1 par value common stock at $12 per share. Date Accounts and Explanation Mar. 4 Date May 22 Cash May 22: Purchased 1,000 shares of treasury stock-common at $13 per share. Accounts and Explanation Sep. 22 Common Stock-$1 Par Value Paid-In Capital in Excess of Par-Common Issued common stock for cash. Treasury Stock-Common Cash Purchased treasury stock. Sep. 22: Sold 700 shares of treasury stock-common at $18 per share. Date Accounts and Explanation More info Mar. 4 May 22 Sep. 22 Oct. 14 Print Debit 348,000 Done Debit 13,000 Issued 29,000 shares of $1 par value common stock at $12 per share. Purchased 1,000 shares of treasury stock-common at $13 per share. Sold 700 shares of treasury stock-common at $18 per share. Sold 300 shares of treasury stock-common at $8 per share. Debit Credit 29,000 319,000 Credit 13,000 Credit X
Transcribed Image Text:Stock transactions for Careful Driving School, Inc. follow: i (Click the icon to view the transactions.) Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4: Issued 29,000 shares of $1 par value common stock at $12 per share. Date Accounts and Explanation Mar. 4 Date May 22 Cash May 22: Purchased 1,000 shares of treasury stock-common at $13 per share. Accounts and Explanation Sep. 22 Common Stock-$1 Par Value Paid-In Capital in Excess of Par-Common Issued common stock for cash. Treasury Stock-Common Cash Purchased treasury stock. Sep. 22: Sold 700 shares of treasury stock-common at $18 per share. Date Accounts and Explanation More info Mar. 4 May 22 Sep. 22 Oct. 14 Print Debit 348,000 Done Debit 13,000 Issued 29,000 shares of $1 par value common stock at $12 per share. Purchased 1,000 shares of treasury stock-common at $13 per share. Sold 700 shares of treasury stock-common at $18 per share. Sold 300 shares of treasury stock-common at $8 per share. Debit Credit 29,000 319,000 Credit 13,000 Credit X
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