The smith company completed the treasury stock transactions, Ask an Expert

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The Smith Company completed the treasury stock transactions below in 2013

February 4: Reacquired 66,000 shares at $13
March 17: Sold 22,000 shares at $16
May 19: Sold 30,000 shares for $8.50

The Smiths had issued 100,000 shares of its $1 par stock for $10 several months before.

Prepare the journal entries to record the above transactions using the cost method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9801286

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