This problem continues the Draper Consulting, Inc., situation from Problem 12-45 of Chapter 12. In October, Draper
Question:
Oct 1 Draper repurchased 200 of its common shares for $50 per share.
Oct 10 Draper reissued 90 of its treasury common shares for $65 per share.
Oct 20 Draper reissued 100 of its treasury common shares for $60 per share.
Requirements
1. Journalize the entry related to the transactions.
2. Calculate the balance in the T-accounts affected by the transactions.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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