Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue 3,000,000 shares of $40
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Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue 3,000,000 shares of $40 par value 9% preferred stock. It is also authorized to issue 3,750,000 shares of $2 par value common stock. In its fifth year, the corporation has the following transactions:
Journalize the transactions.
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Mar. 1 Apr. 10 Jun. 12 Purchased 2,000 shares of its own common stock at $15 per share Reissued 1,000 shares of its common stock held in the treasury for $18 per share. Reissued 1,000 shares of common stock at $12 per share
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Date Particular Amount Dr Amount Cr March 1 Common stock 2000shares 2 4000 A...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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