FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Entries for Treasury Stock
On May 27, Kick Off Inc. reacquired 5,800 shares of its common stock at $48 per share. On August 3, Kick Off sold 3,200 of the reacquired shares at $51
per share. On November 14, Kick Off sold the remaining shares at $47 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
dropdown
Aug. 3
Nov. 14
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Transcribed Image Text:Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 5,800 shares of its common stock at $48 per share. On August 3, Kick Off sold 3,200 of the reacquired shares at $51 per share. On November 14, Kick Off sold the remaining shares at $47 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 dropdown Aug. 3 Nov. 14
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Gain or loss on sale of Treasury stock is adjusted to Paid-in Capital from sale of Treasury stock

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