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16 M4 - Competency Assessment: Part 5 Question 1 of 1 1.67/5 View Policies Show...

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Accounting

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16 M4 - Competency Assessment: Part 5 Question 1 of 1 1.67/5 View Policies Show Attempt History Current Attempt in Progress Concord Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($5 par) $ 500,000, Paid-in Capital in Excess of Par-Common Stock $ 190,000, and Retained Earnings $ 110,000. In 2022, the company had the following treasury stock transactions Mar. 1 June 1 Purchased 6,000 shares at $ 9 per share. Sold 1.500 shares at $ 12 per share Sold 1,500 shares at $ 11 per share. Sold 1,500 shares at $7 per share. Sept. 1 Dec. 1 Concord Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $ 27.000. (a) (b) Open accounts for Paid in Capital trom Treasury Stock. Treasury Stock and Retained Earnings (Post entries in the order of journal entries new 737 Cloudy Type here to search ompetency Assessment: Part 5 Question 1 of 1

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