Question

Entries for treasury stock Instructions Chart of Accounts Journal Instructions On January 31, Wilderness Resorts Inc. scquired 23,000 shares of its common stock at 531 per shwe. On April 20, Wilderness Resorts sold 14,100 of the reacquired shares at $30 per Share On October 4, Wilderness Resorts sold the remaining shares at $27 per share, Journalize the transactions of January 31, April 20, and October 4. Refer to the Chart of Accounts for exact wording of account is.

Answer 1

Date	Description	Post ref.	Debit	Credit	Assets	Liabilities	Equity
January 31	Treasury Stock		731600				↓	=23600*31
	Cash			731600	↓
April 20	Cash		549900		↑			=14100*39
	Treasury Stock			437100			↑	=14100*31
	Paid in Capital from sale of Treasury Stock			112800			↑
October 4	Cash		256500		↑			=(23600-14100)*27
	Paid in Capital from sale of Treasury Stock		38000				↓
	Treasury Stock			294500			↑	=(23600-14100)*31