Business, 30.10.2019 04:31 jdudjdn2891

Buffalo corporation is authorized to issue 47,000 shares of $5 par value common stock. during 2020, buffalo took part in the following selected transactions. 1. issued 4,800 shares of stock at $44 per share, less costs related to the issuance of the stock totaling $5,800. 2. issued 1,100 shares of stock for land appraised at $47,000. the stock was actively traded on a national stock exchange at approximately $45 per share on the date of issuance. 3. purchased 470 shares of treasury stock at $46 per share. the treasury shares purchased were issued in 2016 at $43 per share. (a) prepare the journal entry to record item 1. (b) prepare the journal entry to record item 2. (c) prepare the journal entry to record item 3 using the cost method.

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Buffalo corporation is authorized to issue 47,000 shares of $5 par value common stock. during 2020,...

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