Blofish Corporation had 150,000 shares of $1 par value common stock outstanding. These shares were sold soon
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Question:
Blofish Corporation had 150,000 shares of $1 par value common stock outstanding. These shares were sold soon after IPO in March 2010, at $4 per share. The following stock transaction for the year 2018 is given to you
Jun 5: Purchase 20,000 shares of their own common stock for cash at the current market price of $6 per share.
Jun 12: Sold 8,000 shares of Treasury stock for $8 per share
Jun 18: Sold 60,000 shares of Treasury stock for $5 per share
Jun 22: Retired the balance of treasury stock.
Required: Prepare entries in journal form without explanations to record the above transaction
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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