225ch 11solutions

225ch 11solutions - E 1119 (LO3) a. Treasury Stock...

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E 11–19 (LO3) Treasury Stock Transactions a. No journal entry is required, but a memo note would be recorded in the company’s board of directors’ minutes. b. Cash. ........................................................................................... 750,000 Common Stock. ................................................................... 500,000 Paid-In Capital in Excess of Par Value, Common Stock. 250,000 Issued 50,000 shares of $10 common stock at $15 per share. c. Treasury Stock. ......................................................................... 57,000 Cash. ..................................................................................... 57,000 Purchased 3,000 shares of treasury stock at $19 per share. d. Treasury Stock. ......................................................................... 31,500 Cash. ..................................................................................... 31,500 Purchased 1,500 shares of treasury stock at $21 per share. e. Cash. ........................................................................................... 28,800 Treasury Stock. .................................................................... 22,800 Paid-In Capital, Treasury Stock. ........................................ 6,000 Reissued 1,200 shares of treasury stock that cost $19 per share for $24 per share. f.
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225ch 11solutions - E 1119 (LO3) a. Treasury Stock...

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