FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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 ~

SAVE
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