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Required information E11-8 (Algo) Recording Treasury Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3] [The following information applies to the questions displayed below] The following selected transactions occurred for Corner Corporation: February 1 Parchased 430 sharen of the eoepany's own cosnon stoek at 323 eash per ahares the atoek is nov held in treasury. July 15 Tesued 115 of the thares purchaned on February 1 for 333 eanh per nhare. september 1 yssued 75 more of the shares purchased on February 1 for $18 caeh per ahare. E11-8 (Algo) Part 2 2. Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the purchase of 430 shares of previously issued common stock for a price of $23 per share. 2 Record the re-issuance of 115 shares of treasury stock previously purchased for a price of $23 per share and sold for a price of $33 per share. 3 Record the re-issuance of 75 shares of treasury stock previously purchased for a price of $23 per share and sold for a price of $18 per share. 3. What impact does the purchase of treasury stock have on dividends paid? Required information E11-8 (Algo) Recording Treasury Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: February 1 purchased 430 shares of the company's own comon stock at $23 cash per share; the stock is now held in treasury. July 15 Issued 115 of the nhares purchased on February 1 for $33 eash per nhare. September 1 Issued 75 more of the shares purchased on February 1 for $18 cash per nhare. E11-8 (Algo) Part 4 4. What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income

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