Question

The balance sheet for New Hampshire Sheet Metal Inc., reported the following components of stockholders’ equity on December 31, 2020XX1:
Common stock, $10 par value, 200,000 shares authorized
40,000 shares issued and outstanding........... $400,000
Contributed capital in excess of par value, common stock ..... 60,000
Retained Earnings.................... 270,000
Total stockholders’ equity ................. $ 730,000
Jan 6 Purchased 9,000 shares of treasury stock at $20.00 cash per share.
Aug 1 Sold 4,000 of the treasury shares at $27.00 per share.
Sept 6 Sold 5,000 of the treasury shares at $12.00 per share.

Required:
Prepare the necessary journal entries for the transactions that the company completed during 20X2:



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  • CreatedAugust 05, 2013
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