Journalize the treasury stock transactions for 2013. Yates Corporation has the following stockholders’ equity accounts on January 1, 2013: Common Stock, $10 par value $1,500,000 Paid-in Capital in Excess of Par 200,000 Retained Earnings 500,000 Total Stockholders’ Equity $2,200,000 The company uses the cost method to account for treasury stock transactions. During 2013, the following treasury stock transactions occurred: April 1 Purchased 10,000 shares at $18 per share. August 1 Sold 4,000 shares at $22 per share. October 1 Sold 4,000 shares at $15 per share. Instructions (a) Journalize the treasury stock transactions for 2013. (b) Prepare the Stockholders’ Equity section of the balance sheet for Yates Corporation at December 31, 2013. Assume net income was $110,000 for 2013. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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