Business, 10.03.2020 00:31 soccergirl88821

Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 750 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 270 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 480 shares of its treasury stock for $6 per share.
Required:
Prepare the journal entries to record these transactions.

2019 Feb. 1
Treasury Stock
Cash
(Record purchase of treasury shares) Mar. 1
Cash
Treasury Stock
Additional Paid-In Capital - Treasury Stock
(Record reissue of treasury shares) May 10
Cash
Additional Paid-In Capital - Treasury Stock
Retained Earnings
Treasury Stock (Record reissue of treasury shares)

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Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 750 shares of its...