Brahtz, Inc. engaged in the following transactions involving its common stock during 2019:
Feb. 2 Issued 10,000 shares of $10 par value common stock at $40 cash per share.
Aug. 1 Purchased back 4,000 shares of common stock at $50 cash per share.
Sept. 1 Resold 1,000 shares of treasury stock at $56 cash per share.
Nov. 1 Exchanged remaining 3,000 shares of treasury stock for land with a fair value of $145,000.
Required:
Prepare general journal entries to record these transactions.
Correct Answer:
Verified
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