Carla Company had the following stockholders equity as of January 1, 2020. Common stock, $5...
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Carla Company had the following stockholders equity as of January 1, 2020. Common stock, $5 par value, 18,900 shares issued $94,500 Paid-in capital in excess of parcommon stock 306,000 Retained earnings 317,000 Total stockholders equity $717,500 During 2020, the following transactions occurred. Feb. 1 Carla repurchased 1,900 shares of treasury stock at a price of $18 per share. Mar. 1 810 shares of treasury stock repurchased above were reissued at $16 per share. Mar. 18 470 shares of treasury stock repurchased above were reissued at $14 per share. Apr. 22 550 shares of treasury stock repurchased above were reissued at $19 per share.
a.Prepare the journal entries to record the treasury stock transactions in 2020, assuming Carla uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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