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Journalize the transactions for Worner Corporation

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Question - Worner Corporation is authorized to issue 100,000 ordinary shares with a $5 par value. During 2017, its first year of operation, the company has the following share transactions.

Jan. 1 Issued 50,000 ordinary shares at $7 per share.

Sept. 5 Purchased 1,500 shares for the treasury at $10 per share.

Dec. 6 Sold 1,100 treasury shares at $11 per share.

Required - Journalize the transactions for Worner Corporation.

Reference no: EM132962722

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