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Question: During 2012 J & J made several treasury stock transactions. For each of the following give the entry(s) that J & J would have made. J & J uses the cost method and the par value of common stock is $10.

a. On February 1st J & J purchased in the stock market 2000 shares of their $10 par value stock. They paid $15 per share.

b. On March 1, J & J reissued 600 shares of its common stock at $20 per share.

c. On June 2, J & J reissued another 300 shares of its common stock at $20 per share.

d. On July 1st , J & J reissued the remaining shares of its treasury stock at $11 per share

Required: Give necessary entries for each event

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92713037

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