Question

RadioShack Corporation primarily engages in the retail sale of consumer electronics goods and services through 4,467 company-operated stores under the RadioShack brand, located throughout the United States, as well as in Puerto Rico and the U.S. Virgin Islands. These stores are located in major shopping malls and strip centers, as well as individual storefronts. The company’s statement of cash flows contained the following information (in millions):


Required:
1. Record the purchase of treasury stock in 2011.
2. Record the sale of treasury stock in 2012. Assume the stock had been purchased at a cost of $9  million and the company sold the stock for $10million.


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  • CreatedJuly 01, 2014
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