FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Entries for treasury stock
On May 27, Mama Mia Inc, reacquired 79,000 shares of its common stock at $10 per share. On August 3, Mama Mia sold 53,000 of the reacquired shares at $13 per share. On November 14, Mama Mia sold the remaining shares at $8 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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