PRNER VERSION 4EACK NEXT Problem 15-2 Vaughn Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par value, 19,600 shares issued Paid-in capital in excess of par-common stock Retained earnings $98,000 299,000 317,000 $714,000 Total stockholders' equity During 2017, the following transactions occurred. Feb. 1 Vaughn repurchased 2,110 shares of treasury stock at a price of $17 per share. Mar. 1 830 shares of treasury stock repurchased above were reissued at $15 per share. Mar. 18 550 shares of treasury stock repurchased above were reissued at $13 per share Apr. 22 660 shares of treasury stock repurchased above were reissued at $20 per share. Prepare the journal entries to record the treasury stock transactions in 2017, assuming Vaughn uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Prepare the journal entries to record the treasury stock transactions in 2017, assuming Vaughn uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Mar. 18 Prepare the stockholders' equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $142.400. (Enter account name only and do not provide descriptive information.) VAUGHN COMPANY Stockholders' Equity