Johnston, Inc., engaged in the following transactions involving treasury stock. Feb. 10 Purchased for cash 17,000...

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Johnston, Inc., engaged in the following transactions involving treasury stock. Feb. 10 Purchased for cash 17,000 shares of treasury stock at a price of $29 per share. June 4 Reissued 6,000 shares of treasury stock at a price of $46 per share. Dec. 22 Reissued 4,000 shares of treasury stock at a price of $22 per share. a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. Complete this question by entering your answers in the tabs below. Required A Required B Prepare general journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal e required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record purchase of treasury stock. Note: Enter debits before credits. Date Feb 10 General Journal Debit Credit > Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. Restricted retained earnings < Required A Required B > Johnston, Inc., engaged in the following transactions involving treasury stock. Feb. 10 Purchased for cash 17,000 shares of treasury stock at a price of $29 per share. June 4 Reissued 6,000 shares of treasury stock at a price of $46 per share. Dec. 22 Reissued 4,000 shares of treasury stock at a price of $22 per share. a. Prepare general journal entries to record these transactions. b. Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. Complete this question by entering your answers in the tabs below. Required A Required B Prepare general journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal e required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record purchase of treasury stock. Note: Enter debits before credits. Date Feb 10 General Journal Debit Credit > Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31. Restricted retained earnings < Required A Required B >

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General Journal Entries for Johnston Incs Treasury Stock Transactions a Recording the Transactions T... View the full answer