Wave Company originally issued 30,000 shares of $5 par common stock for $240,000 on January 3, 2014.
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Question:
Wave Company originally issued 30,000 shares of $5 par common stock for $240,000 on January 3, 2014. Wave purchased 1,500 shares of treasury stock for $10 per share on November 2, 2014. On December 6, 2014, 600 shares of the treasury stock are sold for $12 per share.
Instructions
Prepare journal entries to record these stock transactions.
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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