Question

Stock transactions for Defensive Driving School, Inc. follow (Click the icon to view the transactions.) Journalize al entry tat May 22: P More Info w -X Date May 22 Mar May Sep Oct 4 Issued 22,000 shares of $1 par value common stock at $10 per share. 22 Purchased 1,700 shares of treasury stock-common at $10 per share. 22 Sold 800 shares of treasury stock common at $17 per share. 14 Sold 900 shares of treasury stock-common at $6 per share. Print Done Sep. 22: su Date Accounts and Explanation Debit Credit Sep. 22 Cash 13600 Treasury Stock-Common Paid-In Capital from Treasury Stock Transactions Sold treasury stock above cost. Oct. 14: Sold 900 shares of treasury stock-common at $6 per share. Date Accounts and Explanation Debit Credit Oct. 14 Cash 5400 Paid-In Capital from Treasury Stock Transactions Treasury Stock-Common Sold treasury stock below cost.

Answer 1

Answer: * Totanal enties 220 uuuuu cash (92,600x $10) mar-4 Treasury + o onte Account Titles and explanation Debitatg creditca) 220,000 common stock $22,000 Additional paid-in-capital $198,000 Forecord issued share at premium) stock (1, 700x810) 1617,000 may be cash $14,000 fro record stock repurchase) cash $13,600 Additional poid-in-capital (280x7) sep-22 $5,600 Treasury stock (800 xle) $8,000 flo record Recole & Treasury stock cash 900x46) $$5,400 Additiond poid-n-capite (900x5u) $3,600 Oct-ly Treasury stock (900x $10) $9,000 Fio second rosak de Treasurystock