On January 1, 2021, Dreamy Company issued 30,000 shares of $2 par value common stock for $150,000. On March 1, 2021, the company purchased 6,000 shares of its common stock for $7 per share for the treasury. On June 1, 2021, 1,500 of the treasury shares are sold for $10 per share. On September 1, 2021, 3,000 treasury shares are sold at $5 per share. Journalize the stock transactions of Dreamy Company in 2021.
On January 1, 2021, Dreamy Company issued 30,000 shares of $2 par value common stock for $150,000. On March 1, 2021, the company purchased 6,000 shares of its common stock for $7 per share for the treasury. On June 1, 2021, 1,500 of the treasury shares are sold for $10 per share. On September 1, 2021, 3,000 treasury shares are sold at $5 per share. Journalize the stock transactions of Dreamy Company in 2021.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2021, Dreamy Company issued 30,000 shares of $2 par value common stock for $150,000. On March 1, 2021, the company purchased 6,000 shares of its common stock for $7 per share for the treasury. On June 1, 2021, 1,500 of the treasury shares are sold for $10 per share. On September 1, 2021, 3,000 treasury shares are sold at $5 per share.
Journalize the stock transactions of Dreamy Company in 2021.
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