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Business, 04.04.2020 09:06 11AnimalLover11
Pina Company had the following stockholdersâ equity as of January 1, 2020.
Common stock, $5 par value, 20,800 shares issued $104,000
Paid-in capital in excess of parâcommon stock 306,000
Retained earnings 320,000
Total stockholdersâ equity $730,000
During 2020, the following transactions occurred.
Feb. 1 Pina repurchased 2,040 shares of treasury stock at a price of $18 per share.
Mar. 1 750 shares of treasury stock repurchased above were reissued at $16 per share.
Mar. 18 500 shares of treasury stock repurchased above were reissued at $13 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 2020, assuming Skysong uses the cost method.
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Pina Company had the following stockholdersâ equity as of January 1, 2020.
Common stock, $5 p...
Common stock, $5 p...
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