Prepare the entries in journal form necessary to record the following stock transactions of Fitzgerald Corporation.These transactions represent all treasury stock transactions entered into by the company.(Omit explanations.)
June $\quad $1 $\quad $ Purchased 2,000 shares of its own $ \$ 30 $ par value common stock for $ \$ 70 $ per share, the current market price.
$\quad $ $\quad $10 $\quad $ Sold 500 shares of treasury stock purchased on June 1 for $ \$ 80 $ per share
$\quad $ $\quad $20 $\quad $ Sold 700 shares of treasury stock purchased on June 1 for $ \$ 58 $ per share.
$\quad $ $\quad $30 $\quad $ Retired the remaining shares purchased on June 1 . The original issue price was $ \$ 42 $ per share.

Question

Prepare the entries in journal form necessary to record the following stock transactions of Fitzgerald Corporation.These transactions represent all treasury stock transactions entered into by the company.(Omit explanations.)
 June  $\quad $1 $\quad $ Purchased 2,000 shares of its own $ \$ 30 $ par value common stock for $ \$ 70 $ per share, the current market price.
 $\quad $ $\quad $10 $\quad $ Sold 500 shares of treasury stock purchased on June 1 for $ \$ 80 $ per share
 $\quad $ $\quad $20 $\quad $ Sold 700 shares of treasury stock purchased on June 1 for $ \$ 58 $ per share.
 $\quad $ $\quad $30 $\quad $ Retired the remaining shares purchased on June 1 . The original issue price was $ \$ 42 $ per share.

Quizplus · Accepted Answer

The Answer of Prepare the entries in journal form necessary to record the following stock transactions of Fitzgerald Corporation.These transactions represent all treasury stock transactions entered into by the company.(Omit explanations.)
 June  $\quad $1 $\quad $ Purchased 2,000 shares of its own $ \$ 30 $ par value common stock for $ \$ 70 $ per share, the current market price.
 $\quad $ $\quad $10 $\quad $ Sold 500 shares of treasury stock purchased on June 1 for $ \$ 80 $ per share
 $\quad $ $\quad $20 $\quad $ Sold 700 shares of treasury stock purchased on June 1 for $ \$ 58 $ per share.
 $\quad $ $\quad $30 $\quad $ Retired the remaining shares purchased on June 1 . The original issue price was $ \$ 42 $ per share.

Prepare the Entries in Journal Form Necessary to Record the Following