On July 21, 2020, Adams Corp. purchased 2000 shares of its $2.00 par-value Common Stock at...
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On July 21, 2020, Adams Corp. purchased 2000 shares of its $2.00 par-value Common Stock at $15.00 per share. On August 10, 2020, Adams Corp. sold 300 shares of of the Treasury Stock at $30.00 per share. On September 15, 2020 Adams Corp. sold 700 shares of the Treasury Stock at $2.00 per share. REQUIRED: 1) Record the three Journal Entries for the Treasury Stock transactions. 2) Where and how much, does Adams Corp. show the Treasury Stock on its financial statements? On July 21, 2020, Adams Corp. purchased 2000 shares of its $2.00 par-value Common Stock at $15.00 per share. On August 10, 2020, Adams Corp. sold 300 shares of of the Treasury Stock at $30.00 per share. On September 15, 2020 Adams Corp. sold 700 shares of the Treasury Stock at $2.00 per share. REQUIRED: 1) Record the three Journal Entries for the Treasury Stock transactions. 2) Where and how much, does Adams Corp. show the Treasury Stock on its financial statements?
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2 Treasury stock is reflected in stockholders equity section of balace sheet as ... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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