Ellison Company's balance sheet shows: Common stock, $20 par $2,900,000 Paid-in capital in excess of par 1,040,000
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Question:
Ellison Company's balance sheet shows:
Common stock, $20 par | $2,900,000 | |
Paid-in capital in excess of par | 1,040,000 | |
Retained earnings | 700,000 |
Record the following transactions by the cost method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(a) | Bought 8,000 shares of its common stock at $27 a share. | |
(b) | Sold 4,200 treasury shares at $28 a share. | |
(c) | Sold 2,100 shares of treasury stock at $24 a share. |
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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