Elroy Corporation repurchased 3,300 shares of its own stock for $50 per share. The stock has...
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Elroy Corporation repurchased 3,300 shares of its own stock for $50 per share. The stock has a par of $10 per share. A month later, Elroy resold 825 shares of the treasury stock for $58 per share. Required a. Record the two events in general journal format. b. What is the balance of the treasury stock account after these transactions? Complete this question by entering your answers in the tabs below. Required A Required B Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Elroy Corporation repurchased 3,300 shares of its own stock for $50 per share. Record the transaction. Note: Enter debits before credits. Book rences View transaction list Journal entry worksheet A B The stock has a par of $10 per share. A month later, Elroy resold 825 shares of the treasury stock for $58 per share. Record the transaction. Note: Enter debits before credits. Event 2 Record entry General Journal Clear entry Required A Debit Credit View general journal Required B Elroy Corporation repurchased 3,300 shares of its own stock for $50 per share. The stock has a par of $10 per share. A month later, Elroy resold 825 shares of the treasury stock for $58 per share. Required a. Record the two events in general journal format. b. What is the balance of the treasury stock account after these transactions? Complete this question by entering your answers in the tabs below. Required A Required B Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Elroy Corporation repurchased 3,300 shares of its own stock for $50 per share. Record the transaction. Note: Enter debits before credits. Book rences View transaction list Journal entry worksheet A B The stock has a par of $10 per share. A month later, Elroy resold 825 shares of the treasury stock for $58 per share. Record the transaction. Note: Enter debits before credits. Event 2 Record entry General Journal Clear entry Required A Debit Credit View general journal Required B
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Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
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