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44.Kagel Corporation had 30,000 shares of $5 par value common

Question : 44.Kagel Corporation had 30,000 shares of $5 par value common : 2046285

44.Kagel Corporation had 30,000 shares of $5 par value common stock issued and outstanding on December 31, 2009. Each share was issued during 2007 at $14 per share. Prepare the entries in journal form without explanations for the following transactions occurring in 2010:

Jan.4Purchased 5,000 shares of treasury stock for $16 per share. This is the first transaction involving its own stock ever engaged in by the company.

31Sold 1,000 shares of treasury stock for $15 per share.

Feb.20Sold 1,000 shares of treasury stock for $18 per share.

Mar.16Sold 1,000 shares of treasury stock for $11 per share.

Apr.5Retired 2,000 shares of treasury stock.

May8Purchased 500 shares of treasury stock for $12 per share.

31Retired the 500 shares of treasury stock purchased on May 8.

General JournalPage 1

DateDescriptionPost.

Ref.DebitCredit

45.Baird Corporation had 60,000 shares of $5 par value common stock issued and outstanding on December 31, 2009. Each share was issued during 2007 at $14 per share. Prepare the entries in journal form without explanations for the following transactions occurring in 2010:

Jan.4Purchased 10,000 shares of treasury stock for $16 per share. This is the first transaction involving its own stock ever engaged in by the company.

31Sold 2,000 shares of treasury stock for $15 per share.

Feb.20Sold 2,000 shares of treasury stock for $18 per share.

Mar.16Sold 2,000 shares of treasury stock for $11 per share.

Apr.5Retired 4,000 shares of treasury stock.

May8Purchased 1,000 shares of treasury stock for $12 per share.

31Retired the 1,000 shares of treasury stock purchased on May 8.

General JournalPage 1

DateDescriptionPost.

Ref.DebitCredit

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