Cheap Discount Furniture, Inc. completed the following treasury stock transactions in 2018: Requirements 1. Journalize these...

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Cheap Discount Furniture, Inc. completed the following treasury stock transactions in 2018: Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,500 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. Date Accounts Credit Dec. 1 Dec. 15: Sold 200 shares of the treasury stock for cash of $10 per share. Date Accounts Dec. 15 Debit Debit Credit Dec. 20: Sold 700 shares of the treasury stock for cash of $3 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $1,800.) Date Accounts Debit Dec. 20 Credit Requirement 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Cheap Discount Furniture, Inc. will report treasury stock on the balance sheet as to total stockholders' equity. Cheap Discount Furniture, Inc. completed the following treasury stock transactions in 2018: Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,500 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. Date Accounts Credit Dec. 1 Dec. 15: Sold 200 shares of the treasury stock for cash of $10 per share. Date Accounts Dec. 15 Debit Debit Credit Dec. 20: Sold 700 shares of the treasury stock for cash of $3 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $1,800.) Date Accounts Debit Dec. 20 Credit Requirement 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Cheap Discount Furniture, Inc. will report treasury stock on the balance sheet as to total stockholders' equity.

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Requirement1 Date Accounts Dec1 Dec 15 Dec 20 NOTE Treasury Stock Cash Cash Treasury Stock Paidincap... View the full answer