Asked by Ashley Scott on Apr 26, 2024
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On June 5, Belen Corporation reacquired 3,300 shares of its own common stock at $45 per share. On July 15, Belen sold 2,000 of the reacquired shares at $48 per share. On August 30, Belen sold the remaining shares at $42 per share.Journalize the transactions of June 5, July 15, and August 30.
Reacquired Shares
Stocks that were issued and subsequently bought back by the issuing company, reducing the number of shares outstanding on the open market.
Common Stock
Equity ownership in a corporation, representing a claim on part of the corporation's earnings and assets.
Journalize Transactions
The process of recording business transactions in the journal as part of the accounting cycle.
- Comprehend the influence of stock transactions, encompassing reacquisitions and sales, on an organization's financial reporting.
- Achieve proficiency in recording stock transactions, encompassing both repurchases and sales.
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CB
Learning Objectives
- Comprehend the influence of stock transactions, encompassing reacquisitions and sales, on an organization's financial reporting.
- Achieve proficiency in recording stock transactions, encompassing both repurchases and sales.