On May 27, Kick Off Inc. reacquired 4,600 shares of its common stock at $55 per share. On August 3, Kick Off sold 2,900 of the reacquired shares at $58 per share. November 14, Kick Off sold the remaining shares at $54 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. May 27 Treasury Stock 253,000 Cash 253,000 Cash Aug. 3 168,200 Treasury Stock Paid-In Capital from Sale of Treasury Stock Nov. 14 Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock 00

On May 27, Kick Off Inc. reacquired 4,600 shares of its common stock at $55 per share. On August 3, Kick Off sold 2,900 of the reacquired shares at $58 per share. November 14, Kick Off sold the remaining shares at $54 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. May 27 Treasury Stock 253,000 Cash 253,000 Cash Aug. 3 168,200 Treasury Stock Paid-In Capital from Sale of Treasury Stock Nov. 14 Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock 00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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