eBook Calculator On January 1, 2019, Tommyboy Corporation repurchases 12,500 shares of its outstanding common...
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eBook Calculator On January 1, 2019, Tommyboy Corporation repurchases 12,500 shares of its outstanding common stock for $26 per share. On May 1, 2019, Tommybay sells 9,500 shares of treasury stock for $17 per share. On October 1, 2019, Tommyboy sells 1,500 shares of its treasury stock for $14 per share. Required: 1. Prepare the journal entries to record these transactions. 2019 Jan. 1 (Record purchase of treasury shares) May 1 (Record reissue of treasury shares) (Record reissue of treasury Shares) 2. How will these transactions affect Tommyboy's 2019 income statement? The income statement is by treasury stock transactions because the income statement 07.06 9 MOB WR SAMSUNG
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