On August 19, Portland Corporation repurchases 8,900 shares of its outstanding common stock for $11...
70.2K
Verified Solution
Link Copied!
Question
Accounting
On August 19, Portland Corporation repurchases 8,900 shares of its outstanding common stock for $11 per share. On October 31, Portland sells 2,670 shares of treasury stock for $17 per share. Any additional sales of treasury stock during the year were sold for $8 per share. On December 31, Portland had no remaining treasury stock.
Required:
Prepare the necessary journal entries to record any transactions associated with treasury stock. If an amount box does not require an entry, leave it blank.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.