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During 2010 East copr. Had the following transactions in their $10 par value common stock:
1. issued 10,000 shares of common stock for $30 per share
2. Reacquired 1,000 shares of its common stock for $28 per share.
3. Reissued 600 shares of the treasury stock for $30 per share.
4. Reissued 300 shares of the treasury stock for $21 per share
5. Retired the remaining 100 shares of treasury stock.

prepare journal entries for the transactions above, assuming the company uses the cost method of recording treasury stock transactions.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940046

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