On January 31, Wilderness Resorts Inc. reacquired 22,500 shares of its common stock at $31 per share. On April 20, Wilderness Resorts sold 12,800 of the reacquired shares at $40 per share. On October 4, Wilderness Resorts sold the remaining shares at $28 per share. Journalize the transactions of January 31, April 20, and October 4.
Chapter 11, Practice Exercises #9
On January 31, Wilderness Resorts Inc. reacquired 22,500 shares of its common stock at $31 per share. On April 20, Wilderness Resorts sold 12,800 of the reacquired shares at $40 per share. On October 4, Wilderness Resorts sold the remaining shares at $28 per share. Journalize the transactions of January 31, April 20, and October 4.
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...
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Jan. 31 Treasury Stock (22,500 shares $31) 697,500 Cash 697,500 Apr. 20 Cash (…View the full answer
Related Book For 
Corporate Financial Accounting
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
ISBN: 978-1133952411