Reference no: EM132478405
Question - Alamo Corporation began 2018 with the following account balances.
Common stock, $20 par, 100,000 shares authorized, 75,000 issued and outstanding $1,500,000
Paid-in capital in excess of par - common 500,000
Retained earnings 750,000
Alamo completed the following transactions in January, 2018. Prepare journal entries for these transactions.
Jan. 10 Reacquired 5,000 shares of its stock for $30 per share.
Jan. 20 Sold 2,000 shares of treasury stock for $33 per share.
Jan.30 Sold the remaining shares of treasury stock for $25 per share.
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