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Business, 07.01.2020 01:31 berrydivina

On january 1, 2020, the stockholders' equity section of cheyenne corp. shows common stock ($4 par value) $1,200,000; paid-in capital in excess of par $1,070,000; and retained earnings $1,220,000. during the year, the following treasury stock transactions occurred.
mar.1 purchased 47,000 shares for cash at $15 per share.
july.1 sold 10,000 treasury shares for cash at $17 per share.
sept.1 sold 8,500 treasury shares for cash at $14 per share.
a. restate the entry for september 1, assuming the treasury shares were sold at $11 per share.

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On january 1, 2020, the stockholders' equity section of cheyenne corp. shows common stock ($4 par va...
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