xercise 10-61 (Algorithmic) Issuing and Repurchasing Stock Canary Corp. had the following transactions related to its common and preferred stock: January 15 Sold 50,000 shares of $0.50 par common stock for $12 per share. Sold 2,000 shares of $10 par preferred stock at $14 per share. October 1 Repurchased 3,100 shares of the common stock at $20 per share. Required: Prepare the journal entries for the above transactions. Jan. 15 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 (Record sale of preferred and common stock) Oct. 1 fill in the blank 17 fill in the blank 19 (Record purchase of treasury shares)
xercise 10-61 (Algorithmic) Issuing and Repurchasing Stock Canary Corp. had the following transactions related to its common and preferred stock: January 15 Sold 50,000 shares of $0.50 par common stock for $12 per share. Sold 2,000 shares of $10 par preferred stock at $14 per share. October 1 Repurchased 3,100 shares of the common stock at $20 per share. Required: Prepare the journal entries for the above transactions. Jan. 15 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 (Record sale of preferred and common stock) Oct. 1 fill in the blank 17 fill in the blank 19 (Record purchase of treasury shares)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 10-61 (
Issuing and Repurchasing Stock
Canary Corp. had the following transactions related to its common and
| January 15 | Sold 50,000 shares of $0.50 par common stock for $12 per share. Sold 2,000 shares of $10 par preferred stock at $14 per share. | |
| October 1 | Repurchased 3,100 shares of the common stock at $20 per share. |
Required:
Prepare the
| Jan. 15 | fill in the blank 2 | fill in the blank 3 | |
| fill in the blank 5 | fill in the blank 6 | ||
| fill in the blank 8 | fill in the blank 9 | ||
| fill in the blank 11 | fill in the blank 12 | ||
| fill in the blank 14 | fill in the blank 15 | ||
| (Record sale of preferred and common stock) | |||
| Oct. 1 | fill in the blank 17 | ||
| fill in the blank 19 | |||
| (Record purchase of treasury shares) |
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