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eBook Show Me How Calculator Print em Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 77,000 shares of its com
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Answer #1

Journal entries:

May 27

Treasure ...................... Dr. $616,000

Cash ................................ Cr. $616,000

(To record reacquire 77,000 share @$8)

August 3,

Cash........................................................... Dr.561,000

Treasure ............................................................... Cr.$408,000

Paid in capital from sale of treasure stock......... Cr.$153,000

( To record issue 51,000 share @$11 )

Nov,14

Cash ................................................ Dr.$156,000

Paid in capital - treasure stock....... Dr. $52,000

Treasure stock ..................................... Cr. $208,000

(To record issue of 26,000share @$6)

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