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Coronado Corporation has outstanding 22,000 shares of $ reacquired 190 shares at $82 per share. On November 1, C previous treasury stock transactions. Prepare Coronado's journal entries to record these transac account titles are automatically indented when the amount is e account titles.

Coronado Corporation has outstanding 22,000 shares of $ reacquired 190 shares at $82 per share. On November 1, C previous treasury stock transactions. Prepare Coronado's journal entries to record these transac account titles are automatically indented when the amount is e account titles.

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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Subject: acounting 

Coronado Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2025, Coronado reacquired 190 shares at $82 per share. On November 1, Coronado reissued the 140 shares at $71 per share. Coronado had no previous treasury stock transactions. Prepare Coronado's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date 3/1/25 11/1/25 Account Titles and Explanation Treasury Stock Cash Cash Retained Earnings Treasury Stock Debit 15580 9940 5640 Credit 15580 10 15580
Transcribed Image Text:Coronado Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2025, Coronado reacquired 190 shares at $82 per share. On November 1, Coronado reissued the 140 shares at $71 per share. Coronado had no previous treasury stock transactions. Prepare Coronado's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date 3/1/25 11/1/25 Account Titles and Explanation Treasury Stock Cash Cash Retained Earnings Treasury Stock Debit 15580 9940 5640 Credit 15580 10 15580
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