During Year 1, Long Beach Corporation completed the treasury stock transactions described below: Jan. 2 Reacquired 1,000
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Question:
During Year 1, Long Beach Corporation completed the treasury stock transactions described below:
Jan. | 2 | Reacquired 1,000 shares at $10 per share | ||
Feb. | 2 | Sold 400 shares at $12 per share |
Prepare the appropriate journal entry to record the sale of the treasury stock on February 2.
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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