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Journal Entries for Treasury Stock

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Record the following transactions of a company in general journal form:
(a) Reacquired 8,000 of its own $10 par value common stock at $40 cash per share.
The stock was originally issued at $15 per share.
(b) Sold 2,000 shares of the stock reacquired under part (a) at $43 cash per share.
(c) Sold 3,000 shares of the stock reacquired under part (a) at $39 cash per share.

Journal Entries:

Date Account Debit Credit
1.

2.

3.

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Journal entries

Record the following transactions of a company in general journal form:
(a) Reacquired 8,000 of its own $10 par value common stock at $40 cash per share.
The stock was ...

Solution Summary

This solution is comprised of a detailed explanation to prepare journal entries for treasury stock.

$2.19