In 2024, Western Transport Company entered into the treasury stock transactions described below. In 2022, Western...

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In 2024, Western Transport Company entered into the treasury stock transactions described below. In 2022, Western Transport had issued 190 million shares of its $1 par common stock at $19 per share. Required: Prepare the appropriate journal entry for each of the following transactions: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 1. On January 23, 2024, Western Transport reacquired 15 million shares at $22 per share. 2. On September 3, 2024, Western Transport sold 4 million treasury shares at $23 per share. 3. On November 4, 2024, Western Transport sold 4 million treasury shares at $20 per share. View transaction list Journal entry worksheet 1 2 3 Record the reacquisition of 15 million shares at $22 per share. Note: Enter debits before credits. Date January 23, 2024 General Journal. Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the sale of 4 million treasury shares at $23 per share. Note: Enter debits before credits. Date September 03, 2024 General Journal Debit Credit > Journal entry worksheet < 1 2 Record the sale of 4 million treasury shares at $20 per share. Note: Enter debits before credits. Date November 04, 2024 General Journal Debit Credit Record entry Clear entry View gene In 2024, Western Transport Company entered into the treasury stock transactions described below. In 2022, Western Transport had issued 190 million shares of its $1 par common stock at $19 per share. Required: Prepare the appropriate journal entry for each of the following transactions: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 1. On January 23, 2024, Western Transport reacquired 15 million shares at $22 per share. 2. On September 3, 2024, Western Transport sold 4 million treasury shares at $23 per share. 3. On November 4, 2024, Western Transport sold 4 million treasury shares at $20 per share. View transaction list Journal entry worksheet 1 2 3 Record the reacquisition of 15 million shares at $22 per share. Note: Enter debits before credits. Date January 23, 2024 General Journal. Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 Record the sale of 4 million treasury shares at $23 per share. Note: Enter debits before credits. Date September 03, 2024 General Journal Debit Credit > Journal entry worksheet < 1 2 Record the sale of 4 million treasury shares at $20 per share. Note: Enter debits before credits. Date November 04, 2024 General Journal Debit Credit Record entry Clear entry View gene

Answer rating: 100% (QA)

Journal Entries are as follows Requirement 1 On January 23 2024 Western Transport reacquired 15 mill... View the full answer