Splish Inc. has outstanding 11,800 shares of $10 par value common stock. On July 1, 2020, Splish reacquired 104 shares at $88 per share. On September 1, Splish reissued 61 shares at $94 per share. On November 1, Splish reissued 43 shares at $85 per share.Prepare Splish’s journal entries to record these transactions using the cost method.

Question

Splish Inc. has outstanding 11,800 shares of $10 par value common stock. On July 1, 2020, Splish reacquired 104 shares at $88 per share. On September 1, Splish reissued 61 shares at $94 per share. On November 1, Splish reissued 43 shares at $85 per share.

Prepare Splish’s journal entries to record these transactions using the cost method.

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