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Problem 15-6 Stellar Company has the following stockholders equity accounts at December 31, 2017 Common Stock ($100 par value, authorized 8,700 shares) $502,800 Retained Earnings 277,400 Your answer is partially correct. Try again. Prepare entries in journal form to record the following transactions, which took place during 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select rrNo Entry forthe account tities and enter。iorme amounts.) (1) 260 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) (2) A $20 per share cash dividend was declared. (3) The dividend declared in (2) above was paid (4) The treasury shares purchased in (1) above were resold at $103 per share. (5) 480 shares of outstanding stock were purchased at $106 per share. (6) 370 of the shares purchased in (5) above were resold at $96 per share.

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Answer: No. Credit Debit 25,220 25,220 168,800 168,800 168,800 168,800 26,780 Account Titles and Explanation Treasury Stock (

STELLAR COMPANY Stockholders Equity for the year ended December 31, 2018 Common Stock Retained Earnings Sub-total Less: Trea

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