May I have assistance with my accounting homework?


Question Description:

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May I have assistance with my accounting homework? Hmwk_XYZ.docx XYZ has 1,000,000 authorized common shares, $10 PV. On 01/01/x1 there were 950,000 shares issued and outstanding. The following transactions occurred during the year. 04/01/x1 XYZ company has bought 50,000 of their own shares (treasury stock) at a market price of $15 per share 06/01/x1 XYZ company sold 5,000 shares of treasury stock at a selling price of $18 per share. 07/01/x1 XYZ company sold 6,000 shares of treasury stock at a selling price of $10 per share. 09/01/x1 XYZ company sold 20,000 shares of treasury stock at a selling price of $20 per share. 10/01/x1 XYZ company sold 19,000 shares of treasury stock at a selling price of $17 per share. Prepare all of the necessary entries for the dates above. Fill in the gray fields in the chart below for the number of shares. The first 2 columns were filled in so as to get you started. Issued outstanding Treasury Stock 01/01/x1 950,000 950,000 0 04/01/x1 950,000 900,000 50,000 06/01/x1 07/01/x1 09/01/x1 10/01/x1

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