Bottom Dollar Furniture, Inc completed the following treasury stock transactions in 2016 Dec 1 Purchased 1,800 shares of the company 's $1 par value common stock as treasury stock, paying cash of $6 per share 15 Sold 300 shares of the treasury stock for cash of $9 per share 20 Sold 700 shares of th...

Requirement 1 Date Accounts and Explanation Debit Credit 2016 ...

Bottom Dollar Furniture, Inc. completed the following treasury stock transactions in 2016: Dec. 1 Purchased 1,800 shares

Question:

Bottom Dollar Furniture, Inc. completed the following treasury stock transactions in 2016:
Dec. 1 Purchased 1,800 shares of the company's $1 as treasury stock, paying cash of $6 per share.
15 Sold 300 shares of the treasury stock for cash of $9 per share.
20 Sold 700 shares of the treasury stock for cash of $2 per share.
Requirements
1. Journalize these transactions. Explanations are not required.
2. How will Bottom Dollar Furniture, Inc. report treasury stock on its as of December 31, 2016? Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...