Question

The equity section of Wilkins Homes' balance sheet at the beginning of the year is as follows:
During the year, Wilkins reissues 1,000 shares of treasury stock for $15 per share and then purchases an additional 1,600 shares of treasury stock at $16 per share.
Required
a. Prepare the journal entries to record the treasury stock transactions.
b. Prepare the equity section of Wilkins' balance sheet after the treasury stock transactions.


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  • CreatedJuly 16, 2015
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