Homework Answers
| Date | Accounts Titles | Debit | Credit | |
| Jan 1 | Cash | $150,000 | ||
| Common Stock | $60,000 | (30,000 x $2) | ||
| Additional Paid-in Capital - Common Stock | $90,000 | Balance | ||
| (To record issue of common stock) | ||||
| Mar 1 | Treasury Stock | $48,000 | (6,000 x $8) | |
| Cash | $48,000 | |||
| (To record purchase of treasury stock) | ||||
| June 1 | Cash | $15,000 | (1,500 x $10) | |
| Treasury Stock | $12,000 | (1,500 x $8) | ||
| Additional Paid-in Capital - Treasury Stock | $3,000 | Balance | ||
| (To record issue of treasury stock) | ||||
| Sep 1 | Cash | $18,000 | (3,000 x $6) | |
| Additional Paid-in Capital - Treasury Stock | $6,000 | balance | ||
| Treasury Stock | $24,000 | (3,000 x $8) | ||
| (To record issue of treasury stock) | ||||
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