Bramble Corporation purchased from its stockholders 4,200 shares of its own previously issued stock for $214,200....

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Bramble Corporation purchased from its stockholders 4,200 shares of its own previously issued stock for $214,200. It later resold 1,680 shares for $54 per share, then 1,680 more shares for $49 per share, and finally 840 shares for $43 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Treasury Stock Cash (To record purchase from stockholders.) Cash Treasury Stock Paid-in Capital from Treasury Stock (To record sales of shares at $54 per share.) Cash Paid-in Capital from Treasury Stock Treasury Stock (To record sales of shares at $49 per share.) Cash Paid-in Capital from Treasury Stock Retained Earnings Treasury Stock (To record sale of shares at $43 per share.) Debit 214200 90720 82320 3360 36120 3360 Credit 214200 84000 6720 84000 Bramble Corporation purchased from its stockholders 4,200 shares of its own previously issued stock for $214,200. It later resold 1,680 shares for $54 per share, then 1,680 more shares for $49 per share, and finally 840 shares for $43 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Treasury Stock Cash (To record purchase from stockholders.) Cash Treasury Stock Paid-in Capital from Treasury Stock (To record sales of shares at $54 per share.) Cash Paid-in Capital from Treasury Stock Treasury Stock (To record sales of shares at $49 per share.) Cash Paid-in Capital from Treasury Stock Retained Earnings Treasury Stock (To record sale of shares at $43 per share.) Debit 214200 90720 82320 3360 36120 3360 Credit 214200 84000 6720 84000

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Bramble Corporation purchased from its stockholders 4200 shares of its own previously issued s... View the full answer