Reference no: EM132732834
Question - A company reported the following stockholders' equity on January 1 of the current year:
Common Stock, 10 $ par, 1,000,000 shares authorized, 400,000 shares issued $4,000,000
Paid-in capital in excess of par, common $1,200,000
Retained Earnings $1,600,000
Total stock holders equity $6,800,000
What is the Journal entries for the following trasnaction relate to the companies stock during the current year-
May 1 Purchased 10,000 shares of treasury stock for $17 per share
May 5 Sold 4,000 shares of treasury stock for 16$ per share
Oct. 12 Sold 2,000 shares of treasury stock for $18 per share
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