Sale of Treasury Stock: In January 2021, ABC Co. purchased 2,000 shares of its stock at $20.00 per share. Throughout 2021 they have been selling the shares of Treasury Stock back to the public; they have 400 shares remaining. The PIC- Treasury Stock has a a credit balance of $3000. On 12 /2021, ABC Co. sells the remaining 400 shares at $10.00 per share. Required: Record the Journal Entry for the sale of the remaining 400 shares of Treasury stock @ $10.00 per share
Sale of Treasury Stock: In January 2021, ABC Co. purchased 2,000 shares of its stock at $20.00 per share. Throughout 2021 they have been selling the shares of Treasury Stock back to the public; they have 400 shares remaining. The PIC- Treasury Stock has a a credit balance of $3000. On 12 /2021, ABC Co. sells the remaining 400 shares at $10.00 per share. Required: Record the Journal Entry for the sale of the remaining 400 shares of Treasury stock @ $10.00 per share
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 84PSA: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...
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Sale of
In January 2021, ABC Co. purchased 2,000 shares of its stock at $20.00 per share. Throughout 2021 they have been selling the shares of Treasury Stock back to the public; they have 400 shares remaining. The PIC- Treasury Stock has a a credit balance of $3000. On 12 /2021, ABC Co. sells the remaining 400 shares at $10.00 per share.
Required: Record the
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