In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western...

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In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport h

Journal entry worksheet 2 3 Record the reacquisition of 20 million shares at $31 per share. Note: Enter debits before credits

Journal entry worksheet Record the sale of 2 million treasury shares at $32 per share. Note: Enter debits before credits. Gen

Journal entry worksheet Record the sale of 2 million treasury shares at $29 per share. Note: Enter debits before credits Gene

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Answer 1

Answer #1

Jan 23	Treasury stock	620
	Cash		620
	(20*31)


Sep 3	Cash (2*32)	64
	Treasury stock (2*31)		62
	Paid in capital in excess of par - Treasury stock		2



Nov 4	Cash (2*29)	58
	Paid in capital in excess of par - Treasury stock		4
	Treasury stock (2*31)		62

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Answer 2

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