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Homework answers / question archive / Treasury stock In 2013, Western Transport Company entered into the treasury stock transactions described below
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Treasury stock |
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In 2013, Western Transport Company entered into the treasury stock transactions described |
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below. In 2011, Western Transport had issued 140 million shares of its $1 par common stock at |
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$17 per share. |
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Required: |
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Prepare the appropriate journal entry for each of the following transactions: |
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1. |
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On January 23, 2013, Western Transport reacquired 10 million shares at $20 per |
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share. |
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2. |
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On September 3, 2013, Western Transport sold 1 million treasury shares at $21 |
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per share. |
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3. |
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On November 4, 2013, Western Transport sold 1 million treasury shares at $18 |
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per share. |
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