This problem continues the Draper Consulting, Inc., situation from Problem 12-45 of Chapter 12. In October, Draper

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This problem continues the Draper Consulting, Inc., situation from Problem 12-45 of Chapter 12. In October, Draper has the following transactions related to its common shares:
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  answer-question

Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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