Lala corporation - Treasury Stock
accountguru (Not rated)
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1. Lala corporation has the following stockholders' equity accounts on january1, 2013:
Commonstock,$10 par value $6,800,000 | |
Paid-in capital in excess of par 400,000 | |
Retained earnings
Total stockholders’ equity |
620,000 |
$7,820,000 | |
The company uses the cost method to account for treasury stock transactions. During 2013, the following treasury stock transactions occurred:
March 1 Purchased 36,000 shares at $36 per share.
July1 Sold 10,000 sharesat$39 per share.
Sept1 Sold 9,500 sharesat$32 per share.
Instructions
Journalize the treasury stock transactions for 2013.
13 years ago
Lala corporation - Treasury Stock
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lala_corporation_-treasury_stock.docx
