Question

 

The following selected transactions occurred for Corner Corporation:
 

Feb. 1   Purchased 450 shares of the company’s own common stock at $25 cash per share; the stock is now held in treasury.
July  15   Issued 125 of the shares purchased on February 1 for $35 cash per share.
Sept. 1   Issued 85 more of the shares purchased on February 1 for $20 cash per share.

 

E11-8 Part 2

  1. Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

 

 

 

 
 
 
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Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
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ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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