Reference no: EM132951518
Question -
Q1. Western Wear Clothing issues 2,300 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $12 per share, record the issuance of common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet - Record the issuance of common stock.
Q2. California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $29 per share. Later in the year, the company decides to purchase 100 shares at a cost of $32 per share.
Record the transaction if California Surf resells the 100 shares of treasury stock at $34 per share.
Journal entry worksheet - Record the sale of treasury stock.
Q3. California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $17 per share. Later in the year, the company decides to purchase 100 shares at a cost of $20 per share.
Record the purchase of treasury stock.
Record the purchase of treasury stock.
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