On June 5- Belen Corporation reacquired 3-300 shares of its common sto.docx
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Jan. 30, 2023•0 likes•4 views
On June 5- Belen Corporation reacquired 3-300 shares of its common sto.docx
Jan. 30, 2023•0 likes•4 views
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On June 5, Belen Corporation reacquired 3,300 shares of its common stock at $45 per share. On July 15, Belen sold 2,000 of the reacquired shares at $48 per share. On August 30, Belen sold the remaining shares at $42 per share. Journalize the transactions of June 5, July 15, and August 30. Solution Journal Entry .
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On June 5- Belen Corporation reacquired 3-300 shares of its common sto.docx
- 1. On June 5, Belen Corporation reacquired 3,300 shares of its common stock at $45 per share. On July 15, Belen sold 2,000 of the reacquired shares at $48 per share. On August 30, Belen sold the remaining shares at $42 per share. Journalize the transactions of June 5, July 15, and August 30. Solution Journal Entry Date Account Debit Credit Jun-05 Treasury Stock 148500 Cash 148500 Jul-15 Cash 96000 Treasury Stock 90000 Paid in Capital from Treasury Stock 6000 Aug-30 Cash 54600 Paid in Capital from Treasury Stock 3900 Treasury Stock 58500