Dennison Service Corporation had no treasury stock at the beginning of 2009. During January 2009, Dennison purchased
Question:
Dennison Service Corporation had no treasury stock at the beginning of 2009. During January 2009, Dennison purchased 7,600 shares of treasury stock at $21 per share. In April 2009, Dennison sold 4,100 of the treasury shares for $25 per share. In August 2009, Dennison sold the remaining treasury shares for $20 per share.
Required:
Prepare journal entries for the January, April, and August treasury stock transactions.
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...
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January Treasury Stock 7600 shares 21 159600 Cash 159600 April Cash 102500 Treasury Sto...View the full answer
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Related Book For 
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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