Question: Please help me with the three requirements The balance sheet of Entertainment, Inc., at December 31, 2017, reported 850,000 shares of $2 par common stock
Please help me with the three requirements
The balance sheet of Entertainment, Inc., at December 31, 2017, reported 850,000 shares of $2 par common stock authorized with 120,000 shares issued and outstanding. Paid-in capital in excess of par-common had balance of $310,000. Retained earnings had a balance of $109,000. During 2018, the company completed the following selected transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Feb 15: Purchased 5,000 shares of treasury stock at $4 per share. Journal Entry Date Accounts Debit Credit Feb 15 - X More info Feb 15 Purchased 5,000 shares of treasury stock at $4 per share. Mar 8 Sold 4,000 shares of treasury stock for $12 per share. Sep 28 Declared and distributed a 5% stock dividend on the 119,000 shares of outstanding common stock. The market value of Entertainment's common stock was $14 per share Print Done
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