Entries for Treasury Stock On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress Clothing sold 41,000 of the reacquired shares at $17 per share. On November 14, Idress Clothing sold the remaining shares at $9 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Treasury Stock Cash Aug. 3 Cash Treasury Stock ~ Paid-In Capital from Sale of Treasury Stock ~ Nov. 14 Cash Paid-In Capital from Sale of Treasury Stock ~ Treasury Stock ~
Entries for Treasury Stock On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress Clothing sold 41,000 of the reacquired shares at $17 per share. On November 14, Idress Clothing sold the remaining shares at $9 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Treasury Stock Cash Aug. 3 Cash Treasury Stock ~ Paid-In Capital from Sale of Treasury Stock ~ Nov. 14 Cash Paid-In Capital from Sale of Treasury Stock ~ Treasury Stock ~
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress Clothing sold 41,000 of the reacquired shares at $17 per share. On November 14, Idress Clothing sold the remaining shares at $9 per share.
Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
May 27
Treasury Stock
Cash
Aug. 3
Cash
Treasury Stock ~
Paid-In Capital from Sale of Treasury Stock ~
Nov. 14
Cash
Paid-In Capital from Sale of Treasury Stock ~
Treasury Stock ~
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