Santa Anita Inc. purchases 3,000 shares of its $50 par value common stock for $180,000 cash on
Question:
Santa Anita Inc. purchases 3,000 shares of its $50 par value common stock for $180,000
cash on July 1. It will hold the shares in the treasury until resold. On November 1, the
corporation sells 1,000 shares of treasury stock for cash at $70 per share. Journalize the
treasury stock transactions.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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