Dennison Service Corporation had no treasury stock at the beginning of the year. During January, Dennison purchased

Question:

Dennison Service had no treasury stock at the beginning of the year. During January, Dennison purchased 23,500 shares of treasury stock at $18 per share. In April, Dennison sold 6,000 of the treasury shares for $20 per share. In August, Dennison sold the remaining treasury shares for $17 per share.

Required:
Prepare journal entries for the January, April, and August treasury stock transactions. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...