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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381 Exercise 19
Reading Treasury stock Tranctions
Johnston, Inc., engaged in the following transactions involving treasury stock:
a.repare general journal entries to record these transactions.
b.ompute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31.
c.oes a restriction on retained earnings affect the dollar amount of retained earnings reported in the balance sheet Explain briefly.
Johnston, Inc., engaged in the following transactions involving treasury stock:
a.repare general journal entries to record these transactions.
b.ompute the amount of retained earnings that should be restricted because of the treasury stock still owned at December 31.
c.oes a restriction on retained earnings affect the dollar amount of retained earnings reported in the balance sheet Explain briefly.
Explanation
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Verified
(a) Preparing General Journal Entries: 
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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
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