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Business, 19.09.2019 23:20 iva60

On january 1, 2017, the stockholders’ equity section of pujols corporation shows: common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,000,000; and retained earnings $1,200,000. during the year, the following treasury stock transactions occurred. mar. 1 purchased 50,000 shares for cash at $17 per share. july 1 sold 10,000 treasury shares for cash at $18 per share. sept. 1 sold 8,000 treasury shares for cash at $16 per share. instructions (a) journalize the treasury stock transactions. (b) restate the entry for september 1, assuming the treasury shares were sold at $14 per share.

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On january 1, 2017, the stockholders’ equity section of pujols corporation shows: common stock ($5...
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