1.
Lala corporation has the following stockholders’ equity accounts on january1, 2013:
| Commonstock,$10 par value $6,800,000 | |
| Paid-in capital in excess of par 400,000 | |
| Retained earnings Total stockholders equity | 620,000 |
| $7,820,000 | |
The company uses the cost method to account for treasury stock transactions. During 2013, the following treasury stock transactions occurred:
March 1Purchased 36,000 shares at $36 per share.
July1 Sold 10,000 sharesat$39 per share.
Sept1 Sold 9,500 sharesat$32 per share.
Instructions
Journalize the treasury stock transactions for 2013.
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