Office Goods, Inc. completed the following treasury stock transactions in 2025: Requirements 1. Journalize these transactions. Explanations
Question:
Office Goods, Inc. completed the following treasury stock transactions in 2025:
Requirements
1. Journalize these transactions. Explanations are not required.
2. How will Office Goods, Inc. report treasury stock on its balance sheet as of December 31, 2025?
Transcribed Image Text:
Dec. 1 15 20 Purchased 1,300 shares of the company's $1 par value common stock as treasury stock, paying cash of $8 per share. Sold 200 shares of the treasury stock for cash of $11 per share. Sold 900 shares of the treasury stock for cash of $4 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $1,900.)
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Date Account Debit Credit Dec 1 Treasury Stock 10400 Cash 10400 Dec 15 Cash 2200 Treasury Stock 1600 ...View the full answer
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Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780137858651
8th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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