A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following:
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A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following:
Purchased 1,500 shares of treasury stock at $16. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares.
Sold 1,000 shares of treasury stock at $19.
Purchased equipment for $80,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining.
Sold 500 shares of treasury stock at $14.
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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