Dunst Company had the following shareholders' equity account balances on December 31,2017:
During 2018,the following transactions occurred:
Dunst uses the single transaction method for treasury shares.
Required:
a.Record the journal entries for the transactions in 2018 and make all the necessary year-end entries relating to shareholders' equity accounts.
b.Prepare the presentation of the shareholders' equity section of Dunst's balance sheet as at December 31,2018.

Question

Dunst Company had the following shareholders' equity account balances on December 31,2017:
  During 2018,the following transactions occurred:
  Dunst uses the single transaction method for treasury shares.
Required:
a.Record the journal entries for the transactions in 2018 and make all the necessary year-end entries relating to shareholders' equity accounts.
b.Prepare the presentation of the shareholders' equity section of Dunst's balance sheet as at December 31,2018.

Quizplus · Accepted Answer

The Answer of Dunst Company had the following shareholders' equity account balances on December 31,2017:
  During 2018,the following transactions occurred:
  Dunst uses the single transaction method for treasury shares.
Required:
a.Record the journal entries for the transactions in 2018 and make all the necessary year-end entries relating to shareholders' equity accounts.
b.Prepare the presentation of the shareholders' equity section of Dunst's balance sheet as at December 31,2018.

Dunst Company Had the Following Shareholders' Equity Account Balances on December