A Instructions 294,000 Washington Company has the following stockholders' equity accounts at December 31, 2025. Common...

 

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A Instructions 294,000 Washington Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 8,000 shares) $480,000 Retained Earnings a. Prepare entries in journal form to record the following transactions, which took place during 2026. 1. 280 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 2. A $20 per share cash dividend was declared. 3. The dividend declared in (2) above was paid. 4. The treasury shares purchased in (1) above were resold at $102 per share 5. 500 shares of outstanding stock were purchased at $105 per share. 6. 350 of the shares purchased in (5) above were resold at $96 per share. A Instructions 294,000 Washington Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 8,000 shares) $480,000 Retained Earnings a. Prepare entries in journal form to record the following transactions, which took place during 2026. 1. 280 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 2. A $20 per share cash dividend was declared. 3. The dividend declared in (2) above was paid. 4. The treasury shares purchased in (1) above were resold at $102 per share 5. 500 shares of outstanding stock were purchased at $105 per share. 6. 350 of the shares purchased in (5) above were resold at $96 per share.

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a Journal entries to record the transactions for Washington Company during 2026 1 To record the purc... View the full answer