Question: help please please will give thumbs up On January 1,2022, the stockholders' equity section of Newlin Corporation shows common stock ( $5 par value) $1,500,000;

help please please will give thumbs up

$1,500,000; paid-in capital in excess of par $1,000,000; and retained earnings $1,200,000.

On January 1,2022, the stockholders' equity section of Newlin Corporation shows common stock ( $5 par value) $1,500,000; paid-in capital in excess of par $1,000,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 50,000 shares for cash at $15 per share. July 1 Sold 10,000 treasury shares for cash at $17 per share. Sept. 1 Sold 8,000 treasury shares for cash at $14 per share. (a) Your answer is correct. Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Journalize the treasury stock transactions. (Record Journal entrles in the onder presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts.) Restate the entry for September 1, assuming the treasury shares were sold at $12 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter Ofor the omounts.)

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