Ask Question
26 June, 08:01

On May 27, Hydro Clothing Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 54,000 of the reacquired shares at $11 per share. On November 14, Hydro Clothing sold the remaining shares at $7 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank.

+3
Answers (1)
  1. 26 June, 08:48
    0
    Journalize the transactions of May 27, August 3, and November 14.

    Explanation:

    deb cre

    may-27 Treasury Stock 600000

    (75000*8)

    Cash 600000

    ago-03 Cash 594000

    (54000*11)

    Treasury Stock 432000

    (54000*8)

    Paid in capital for treasury stock 162000

    nov-14 Cash 147000

    (21000*7)

    Treasury stock 168000

    (21000*7)

    Paid in capital for treasury stock 21000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On May 27, Hydro Clothing Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 54,000 of the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers