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problem: Jan 1 of the current year reports:

Common stock USD 10 par value, 1,000,000 shares authorized, 400,000 shares issued 4,000,000

Contributed Cap in excess par, common 1,200,000

Retained earnings 1,600,000

Make a journal entries for the following selected transactions related to this company’s stock during the year

Mar 1. Purchased 10,000 shares of treasury stock for USD 17 per share

May 5 Sold 4,000 shares of treasury stock for USD 16 per share

Oct 12 sold 2,000 treasury stock of USD 18 per share

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M916380

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