Arrow Corporation began 2017 with the following account balances:
$\begin{array}{ll}
\text { Common shares, } 100,000 \text { shares authorized, } 75,000 \text { issued } & \$ 2,175,000 \
\text { Retained earnings } & 750,000
\end{array}$
In January 2017,Arrow Corporation reported the following transactions:
Jan. 10 Reacquired 5,000 of its own shares for $ \$ 30 $ per share
20 Sold 3,000 of the reacquired shares for $ \$ 33 $ per share,
30 Sold the remaining reacquired shares for $ \$ 22 $ per share.
Record journal entries for the above transactions.

Question

Arrow Corporation began 2017 with the following account balances:
 $\begin{array}{ll}
\text { Common shares, } 100,000 \text { shares authorized, } 75,000 \text { issued } & \$ 2,175,000 \
\text { Retained earnings } & 750,000
\end{array}$
 In January 2017,Arrow Corporation reported the following transactions:
 Jan. 10 Reacquired 5,000 of its own shares for $ \$ 30 $ per share 
20 Sold 3,000 of the reacquired shares for $ \$ 33 $ per share, 
30 Sold the remaining reacquired shares for $ \$ 22 $ per share.
 Record journal entries for the above transactions.

Quizplus · Accepted Answer

The Answer of Arrow Corporation began 2017 with the following account balances:
 $\begin{array}{ll}
\text { Common shares, } 100,000 \text { shares authorized, } 75,000 \text { issued } & \$ 2,175,000 \
\text { Retained earnings } & 750,000
\end{array}$
 In January 2017,Arrow Corporation reported the following transactions:
 Jan. 10 Reacquired 5,000 of its own shares for $ \$ 30 $ per share 
20 Sold 3,000 of the reacquired shares for $ \$ 33 $ per share, 
30 Sold the remaining reacquired shares for $ \$ 22 $ per share.
 Record journal entries for the above transactions.

Arrow Corporation Began 2017 with the Following Account Balances In January 2017,Arrow Corporation Reported the Following Transactions: Jan

Arrow Corporation Began 2017 with the Following Account Balances In January 2017,Arrow Corporation Reported the Following Transactions:
Jan