Calculate the value common stock for the treasury, Accounting Basics

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Calculate the value common stock for the treasury

On July 1, Browning Corporation purchases 550,000 shares of its $6 par value common stock for the treasury at a cash price of $10 per share. On September 1, it sells 200,000 shares of the treasury stock for cash at $12 per share. The balance in the retained earnings account is $6,345,000.

Instructions: Journalize the two treasury stock transactions.

Date	Account Description	Debit	Credit

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Accounting Basics: Calculate the value common stock for the treasury

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Accounting Basics: Calculate the value common stock for the treasury

Reference No:- TGS0558468

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Recent Questions Asked Accounting Basics

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Accounting Basics: Calculate the value common stock for the treasury

Reference No:- TGS0558468

Recent Questions Asked Accounting Basics

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