Exercise 10-65 (Algorithmic) Treasury Stock Transactions Ebenezer Consulting had no treasury stock at the beginning of the year. During January, Ebenezer purchased 6,900 shares of treasury stock at $21 per share. In April, Ebenezer sold 4,100 of the treasury shares for $25 per share. In August, Ebenezer sold the remaining treasury shares for $20 per share. Required: Prepare journal entries for the January, April, and August treasury stock transactions. January: April: August: (Record purchase of treasury shares) (Record reissue of treasury shares) (Record reissue of treasury shares)
Exercise 10-65 (Algorithmic) Treasury Stock Transactions Ebenezer Consulting had no treasury stock at the beginning of the year. During January, Ebenezer purchased 6,900 shares of treasury stock at $21 per share. In April, Ebenezer sold 4,100 of the treasury shares for $25 per share. In August, Ebenezer sold the remaining treasury shares for $20 per share. Required: Prepare journal entries for the January, April, and August treasury stock transactions. January: April: August: (Record purchase of treasury shares) (Record reissue of treasury shares) (Record reissue of treasury shares)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 65E: Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During...
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