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29. On 4/01/2020, the stockholders' equity of Holman Dress Fitters is as follows: Common stock - $10 par, 85,000 authorized, issued and outstanding$600,000 Paid up capital in excess of par, common stock  120,000 Retained earnings  485,000 Prepare the journal entries to record the following transactions, in the books of Holman Dress Fitters: a. On 5/15/2020, purchased 4,000 shares of its own common stock at $20 per share. b. On 7/10/2020, sold 1,500 treasury shares for $26 cash, per share. Journal Date Accounts Dr. Cr. 5/15/2020                       7/10/2020

29. On 4/01/2020, the stockholders' equity of Holman Dress Fitters is as follows: Common stock - $10 par, 85,000 authorized, issued and outstanding$600,000 Paid up capital in excess of par, common stock  120,000 Retained earnings  485,000 Prepare the journal entries to record the following transactions, in the books of Holman Dress Fitters: a. On 5/15/2020, purchased 4,000 shares of its own common stock at $20 per share. b. On 7/10/2020, sold 1,500 treasury shares for $26 cash, per share. Journal Date Accounts Dr. Cr. 5/15/2020                       7/10/2020

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.23E
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29. On 4/01/2020, the stockholders' equity of Holman Dress Fitters is as follows:

Common stock - $10 par, 85,000 authorized, issued and outstanding$600,000

Paid up capital in excess of par, common stock  120,000

Retained earnings  485,000

Prepare the journal entries to record the following transactions, in the books of Holman Dress Fitters:

a. On 5/15/2020, purchased 4,000 shares of its own common stock at $20 per share.

b. On 7/10/2020, sold 1,500 treasury shares for $26 cash, per share.

Journal

Date

Accounts

Dr.

Cr.

5/15/2020

 

 

 

 

 

 

 

 

 

 

 

7/10/2020

 

 

 

 

 

 

 

 

 

 

 
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