EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions:Mar. 1Purchased 1,500 shares of its own common stock at $12 per share.Apr. 10Reissued 750 shares of its common stock held in the treasury for $16 per share.Jun. 12Reissued 750 shares of common stock at $10 per share.Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.Mar. 1 fill in the blank 2fill in the blank 3 fill in the blank 5fill in the blank 6Apr. 10 fill in the blank 8fill in the blank 9 fill in the blank 11fill in the blank 12 fill in the blank 14fill in the blank 15Jun. 12 fill in the blank 17fill in the blank 18 fill in the blank 20fill in the blank 21 fill in the blank 23fill in the blank 24 EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions:Mar. 1Purchased 1,500 shares of its own common stock at $12 per share.Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share.Jun. 12 Reissued 750 shares of common stock at $10 per share.Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.Mar. 1Apr. 10Jun. 12

Every company is authorized to issue a specified number of shares. The company issues the shares to…

Answered: EllaJane Corporation was organized…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions:

Mar. 1	Purchased 1,500 shares of its own common stock at $12 per share.
Apr. 10	Reissued 750 shares of its common stock held in the treasury for $16 per share.
Jun. 12	Reissued 750 shares of common stock at $10 per share.

Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

Mar. 1	fill in the blank 2	fill in the blank 3
	fill in the blank 5	fill in the blank 6
Apr. 10	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
Jun. 12	fill in the blank 17	fill in the blank 18
	fill in the blank 20	fill in the blank 21
	fill in the blank 23	fill in the blank 24

EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 8% preferred stock. It is also authorized to issue
1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions:
Mar. 1
Purchased 1,500 shares of its own common stock at $12 per share.
Apr. 10 Reissued 750 shares of its common stock held in the treasury for $16 per share.
Jun. 12 Reissued 750 shares of common stock at $10 per share.
Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.
Mar. 1
Apr. 10
Jun. 12

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