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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
النسخة 14الرقم المعياري الدولي: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
النسخة 14الرقم المعياري الدولي: 978-1305653535 تمرين 57
Treasury stock transactions
Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 40,000 shares of its common stock at $44 per share. On September 22, Mystic Lake sold 30,000 of the reacquired shares at $50 per share. The remaining 10,000 shares were sold at $43 per share on November 23.
A. Journalize the transactions of July 9, September 22, and November 23.
B. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
C. For what reasons might Mystic Lake Inc. have purchased the treasury stock?
Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 40,000 shares of its common stock at $44 per share. On September 22, Mystic Lake sold 30,000 of the reacquired shares at $50 per share. The remaining 10,000 shares were sold at $43 per share on November 23.
A. Journalize the transactions of July 9, September 22, and November 23.
B. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
C. For what reasons might Mystic Lake Inc. have purchased the treasury stock?
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Treasury stock is stock that a company h...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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