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 1,2000,000
retained earnings 1,600,000
total stockholders equity $6,800,000
prepare journal entries for the following selected transactions related to this company’s stock during the current year
Mar 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.