Reference no: EM132923831
Question - A company reported the following stockholders' equity on January 1 of the current year Common stock - $10 par, 1,000,000 shares
Authorized, 250,000 shares issued $2,500,000
Paid-in capital in excess of par, common 1,260,000
Retained earnings 1,675,000
Total stockholders' equity $5,435,000
What are the journal entries related to this company's stock during the current year?
Mar. 1 - Purchased 10,000 shares of treasury stock for $18 per share.
May 5 - Sold 4,000 shares of treasury stock for $16 per share.
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