Business, 07.04.2020 00:11, bbyitskeke7160

In 2013, Southwestern Corporation completed the treasury stock transactions listed below.

February 2: Reacquired 70,000 shares at $12.
March 17: Sold 20,000 shares at $14.
May 17: Sold 25,000 shares at $8.

Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago.

Required:

Prepare the journal entries to record the above transactions using the cost method.

Answers: 1

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In 2013, Southwestern Corporation completed the treasury stock transactions listed below.