Question

Solution Journal entries: Debit Credit Date eneral Journal Feb S630,000 ash(45000X14) Common stock(45000×3) $135,000 Paid in capital in excess of par-Common 95,000 stock (45000xll) Aug 1 Treasury Stock(5000×20) S100,000 S100,000 Cash S45.000 Sep 1 Cash(1500×30) S30,000 Treasury Stock(1500×200 Paid in capital from Treasur $15,000 ry(1500×10) Oct Cash(700×27) S$18,900 Treasu Stock (700×200 $14,000 $4,900 S13,500 Nov 1 Cash Paid in capital from Treasury 8000-13500) S4,500 $18,000 Treasury Stock(900×20) ov S9,600 Paid in capital from Treasury(12000-9600) 512000 Treasury Stock(600×20) s ommon stock(1300×3) S3,900 Paid in capital in excess of par- $14,300 Common (1300×11) Paid in capital from Treasury(1300×6) 7,800 520,000 Treasury Stock(1300×20)



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