Nanjing Ltd. purchased from its shareholders 5,000 shares of its own previously issued shares for 250,000. It

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Nanjing Ltd. purchased from its shareholders 5,000 shares of its own previously issued shares for ¥250,000. It later resold 1,300 shares for ¥54 per share, then 2,000 more shares for ¥49 per share, and finally 1,700 shares for ¥40 per share.

Instructions
Prepare journal entries for the purchase of the treasury shares and the three sales of treasury shares.

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Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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Question Posted: Jun 25, 2019 10:38 AM

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Nanjing Ltd. purchased from its shareholders 5,000 shares of its own previously issued shares for 250,000. It

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Treasury Shares250000 Cash 250000 Cash 1300 X 5470200 Treasury Shares ...View the full answer

Accounting Principles

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