Recording Treasury Stock Transactions and Analyzing Their Impact
During 2011 the following selected transactions affecting stockholders’ equity occurred for Orlando Corporation:
a | Apr. 1 | Purchased in the market 200 shares of the company’s own common stock at $20 per share. |
b. | Jun. 14 | Sold 40 shares of treasury stock for $25 cash per share. |
c | Sept. 1 | Sold30 shares of treasury stock for $15 cash per share. |
Required:
1. Give journal entries for each of these transactions.
2. Describe the impact. if any, that these transactions have on the income statement.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.