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On January 10, 2019, Chatter Design Services purchased treasury stock at a cost of $24 million. On July 3, 2019, Chatter
Posted: Fri Jul 01, 2022 8:38 am
by answerhappygod
- On January 10 2019 Chatter Design Services Purchased Treasury Stock At A Cost Of 24 Million On July 3 2019 Chatter 1 (33.36 KiB) Viewed 30 times
On January 10, 2019, Chatter Design Services purchased treasury stock at a cost of $24 million. On July 3, 2019, Chatter resold some of the treasury stock for $9 million; this resold treasury stock had cost the
company $6 million. Record the purchase and resale of Chatter's treasury stock. Overall, how much did stockholders' equity increase or decrease as a result of the two treasury-stock transactions? Record the purchase and resale of Chatter's treasury stock. (Record debits first, then credits. Exclude explanations from any journal entries. Enter amounts in millions as provided to you in the problem
statement.) First, record the purchase of the treasury stock. Date Jan 10 Jul 3 Next, record the resale of the treasury stock. Journal Entry Accounts Date Journal Entry Accounts Debit million. Millions Debit Credit Millions Credit Overall, how much did stockholders' equity increase or decrease as a result of the two treasury-stock transactions? Overall stockholders' equity by $