The smiths had issued 100000 shares of its 1 par stock for

Reference no: EM13486110

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.

Reference no: EM13486110

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