Question: Bottom Dollar Furniture Inc completed the following treasury stock transactions

Bottom Dollar Furniture, Inc. completed the following treasury stock transactions in 2016:
Dec. 1 Purchased 1,800 shares of the company's $1 par value common stock as treasury stock, paying cash of $6 per share.
15 Sold 300 shares of the treasury stock for cash of $9 per share.
20 Sold 700 shares of the treasury stock for cash of $2 per share.
Requirements
1. Journalize these transactions. Explanations are not required.
2. How will Bottom Dollar Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2016?

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  • CreatedJune 15, 2015
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