Cal Cookie Company (CCC)has 100 million shares of $1 par common stock authorized.The transactions below caused changes in CCC's outstanding shares.
January 4,2016: Repurchased and retired 1 million shares at $8 per share.
June 25,2016: Repurchased and retired 2 million shares at $2 per share.
Prior to the transactions,CCC's shareholders' equity included the following:

Required:
Record entries for the above transactions.

Question

Cal Cookie Company (CCC)has 100 million shares of $1 par common stock authorized.The transactions below caused changes in CCC's outstanding shares.
January 4,2016: Repurchased and retired 1 million shares at $8 per share.
June 25,2016: Repurchased and retired 2 million shares at $2 per share.
Prior to the transactions,CCC's shareholders' equity included the following:
  
Required:
Record entries for the above transactions.

Quizplus · Accepted Answer

The Answer of Cal Cookie Company (CCC)has 100 million shares of $1 par common stock authorized.The transactions below caused changes in CCC's outstanding shares.
January 4,2016: Repurchased and retired 1 million shares at $8 per share.
June 25,2016: Repurchased and retired 2 million shares at $2 per share.
Prior to the transactions,CCC's shareholders' equity included the following:
  
Required:
Record entries for the above transactions.

Cal Cookie Company (CCC)has 100 Million Shares of $1 Par