Narrow Corporation began 2017 with the following account balances:
$\begin{array}{ll}
\text { Common shares, } 100,000 \text { shares authorized, 50,000 issued } & \$ 1,200,000 \
\text { Retained earnings } & 950,000
\end{array}$
In 2017,Arrow Corporation reported the following transactions:
Jan. 10 Reacquired 5,000 of its own shares for $ \$ 20 $ per share
Mar 20 Teacquired 2,000 of its own shares for $ \$ 25 $ per share
30 Sold 4,000 of the reacquired shares for $ \$ 22 $ per share.
Record journal entries for the above transactions.

Question

Narrow Corporation began 2017 with the following account balances:
 $\begin{array}{ll}
\text { Common shares, } 100,000 \text { shares authorized, 50,000 issued } & \$ 1,200,000 \
\text { Retained earnings } & 950,000
\end{array}$
 In 2017,Arrow Corporation reported the following transactions:
 Jan. 10 Reacquired 5,000 of its own shares for $ \$ 20 $ per share 
Mar 20 Teacquired 2,000 of its own shares for $ \$ 25 $ per share 
30 Sold 4,000 of the reacquired shares for $ \$ 22 $ per share.
 Record journal entries for the above transactions.

Quizplus · Accepted Answer

The Answer of Narrow Corporation began 2017 with the following account balances:
 $\begin{array}{ll}
\text { Common shares, } 100,000 \text { shares authorized, 50,000 issued } & \$ 1,200,000 \
\text { Retained earnings } & 950,000
\end{array}$
 In 2017,Arrow Corporation reported the following transactions:
 Jan. 10 Reacquired 5,000 of its own shares for $ \$ 20 $ per share 
Mar 20 Teacquired 2,000 of its own shares for $ \$ 25 $ per share 
30 Sold 4,000 of the reacquired shares for $ \$ 22 $ per share.
 Record journal entries for the above transactions.

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

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