Business, 03.04.2020 02:48 princesskoi8561

Bridgeport Company had the following stockholders’ equity as of January 1, 2017.Common stock, $5 par value, 18,400 shares issued $92,000Paid-in capital in excess of par—common stock 295,000Retained earnings 313,000Total stockholders’ equity $700,000Bridgeport repurchased 1,900 shares of treasury stock at a price of $18 per share. Mar. 1 810 shares of treasury stock repurchased above were reissued at $16 per share. Mar. 18 470 shares of treasury stock repurchased above were reissued at $14 per share. Apr. 22 550 shares of treasury stock repurchased above were reissued at $19 per share. Required:a. Prepare the journal entries to record the treasury stock transactions in 2017, assuming Swifty uses the cost method. b. Prepare the stockholders’ equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $140,400.

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Bridgeport Company had the following stockholders’ equity as of January 1, 2017.Common stock, $5 par...

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