Alpha Geek

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    Polytechnic State University Sanluis
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Category > Accounting Posted 13 May 2017 My Price 5.00

Provide the necessary journal entries to record these transactions

On January 1, 2009, Tommyboy Corporation repurchases 12,000 shares of its outstanding common stock for $26 per share. On May 1, 2009, Tommyboy sells 9,500 shares of treasury stock for $17 per share. On October 1, 2009, Tommyboy sells 1,500 shares of its treasury stock for $44 per share.
Required:
Provide the necessary journal entries to record these transactions.

Answers

Alpha Geek
(8)
Status NEW Posted 13 May 2017 07:05 AM My Price 5.00

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Attachments

file 1494659711-Answer.docx preview (82 words )
O-----------n J-----------anu-----------ary----------- 1,----------- 20-----------09,----------- To-----------mmy-----------boy----------- Co-----------rpo-----------rat-----------ion----------- re-----------pur-----------cha-----------ses----------- 12-----------,00-----------0 s-----------har-----------es -----------of -----------its----------- ou-----------tst-----------and-----------ing----------- co-----------mmo-----------n s-----------toc-----------k f-----------or -----------$26----------- pe-----------r s-----------har-----------e. -----------On -----------May----------- 1,----------- 20-----------09,----------- To-----------mmy-----------boy----------- se-----------lls----------- 9,-----------500----------- sh-----------are-----------s o-----------f t-----------rea-----------sur-----------y s-----------toc-----------k f-----------or -----------$17----------- pe-----------r s-----------har-----------e. -----------On -----------Oct-----------obe-----------r 1-----------, 2-----------009-----------, T-----------omm-----------ybo-----------y s-----------ell-----------s 1-----------,50-----------0 s-----------har-----------es -----------of -----------its----------- tr-----------eas-----------ury----------- st-----------ock----------- fo-----------r $-----------44 -----------per----------- sh-----------are-----------.Re-----------qui-----------red-----------:Pr-----------ovi-----------de -----------the----------- ne-----------ces-----------sar-----------y j-----------our-----------nal----------- en-----------tri-----------es -----------to -----------rec-----------ord----------- th-----------ese----------- tr-----------ans-----------act-----------ion-----------s. ----------- A-----------nsw-----------er ----------- Jo-----------urn-----------al -----------Ent-----------rie-----------s D-----------ate----------- Ac-----------cou-----------nti-----------ng -----------tit-----------les----------- an-----------d E-----------xpl-----------ana-----------tio-----------ns
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