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In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 170 million shares
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Answer #1
General Journal Debit Credit
January 02,2021 Common Stock 10
Paid-In Capital-Excess of Par 330 =10*(34-1)
     Paid-In Capital-Share Repurchase 15
     Cash 325 =10*32.5
March 03,2021 Common Stock 10
Paid-In Capital-Excess of Par 330 =10*(34-1)
Paid-In Capital-Share Repurchase 15
Retained Earnings 5
     Cash 360 =10*36
August 13,2021 Cash 42
     Common Stock 1
     Paid-In Capital-Excess of Par 41
December 15,2021 Cash 72 =2*36
     Common Stock 2
     Paid-In Capital-Excess of Par 70
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