Acetylene gas is burned in a complete combustion reaction in welding torches: 2C2H2(g) + 5O2(g) ? 4CO2(g) + 2H2O(g)
January 2, 2018
Determine the empirical and molecular formula for chrysotile asbestos. Chrysotile has the following percent composition: 28.03% Mg, 21.60% Si, 1.16% H, and 49.21% O. The molar mass for chrysotile is 520.8 g/mol
January 2, 2018

Journalize the treasury stock transactions

Question
Financial Accounting

E3-4 On January 1, 2002, the stockholders’ equity section of Ted Parge Corporation shows:

common stock ($5 par value) $1,500,000; paid-in capital in excess of par value $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 $14 per share.

July 1 Sold 10,000 treasury shares for cash at $16 per share.

Sept. 1 Sold 8,000 treasury shares for cash at $13 per share.

Instructions

(a) Journalize the treasury stock transactions.

(b) Restate the entry for September 1, assuming the treasury shares were sold at $11 per share.

 

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