Chapter 11 HW .> C | ezto.mheducation.com/hm.tpx E11-8 Recording Treasury Stock

Question

Chapter 11 HW .> C | ezto.mheducation.com/hm.tpx E11-8 Recording Treasury Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3] The folowing information applies to the questions displeyed belo The folowing selected transactions occurred for Corner Conporation Feb.1 Purchased 410 shares of the company's own common stock at $21 cash per share the stock is now July 15 ssued 105 of the shares purchased on February 1 for $31 cash per share held in treasury Sept 1 Issued 65 more of the shares purchased on February 1 for $16 cash per share References E11-8 Recording Treasury Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3] Section Break Required information 0.37 points E11-8 Part 1 Required: 1. Indicating the account, amount, and direction of the elTect for the above transactions. (Enter any decreases to account balances with a minus sign.) sets holders' Equity Feb. 1 July 15 Sept 1 O Type here to search 6:39 PM 11/28/2017

Explanation / Answer

Assets Liabilities Stockholders' Equity Feb-01 Cash -8610 Treasury stock -8610 Jul-15 Cash 3255 Treasury stock 2205 Additional paid in capital-Treasury stock 1050 Sep-01 Cash 1040 Treasury stock 1365 Additional paid in capital-Treasury stock -325

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