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In 2021, Western Transport Company entered into the treasury stock transactions described below. In 2019, Western Transp

Posted: Mon May 30, 2022 7:11 am
by answerhappygod
In 2021 Western Transport Company Entered Into The Treasury Stock Transactions Described Below In 2019 Western Transp 1
In 2021 Western Transport Company Entered Into The Treasury Stock Transactions Described Below In 2019 Western Transp 1 (108.86 KiB) Viewed 18 times
In 2021, Western Transport Company entered into the treasury stock transactions described below. In 2019, Western Transport had issued 220 million shares of its $1 par common stock at $22 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2021, Western Transport reacquired 15 million shares at $25 per share. 2. On September 3, 2021, Western Transport sold 1 million treasury shares at $26 per share. 3. On November 4, 2021, Western Transport sold 1 million treasury shares at $23 per share. View transaction list Journal entry worksheet 1 2 3 > Record the reacquisition of 15 million shares at $25 per share. Note: Enter debits before credits. General Journal Debit Date January 23, 2021 Record entry Clear entry Credit View general journal