Problemon february 1 marine company reacquired 7500 shares, Ask an Expert

Accounting

Problem:

On February 1, Marine Company reacquired 7,500 shares if its common stock at $30 per share. On March 15, Marine sold 4,500 of the reacquired shares at $34 per share. On June 2, Marine sold the remaining shares at $28 per share.

Required:

Question: Journalize the transaction of February 1, March 15, and June 2.

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91163873

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