Current Attempt in Progress Grouper Corporation had the following stockholders' equity accounts on January 1,...
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Current Attempt in Progress Grouper Corporation had the following stockholders' equity accounts on January 1, 2022. Common Stock ($5 par) 5550,000. Paid in Capital in Decess of Par-Common Stock $180.000, and Retained Earnings $110.000. In 2022, the company had the following treasury stack transactions Mar. 1 June 1 Purchased 5.500 shares at $8 per share. Sold 1.500 shares at $12 per share Solid 2,000 shares at $10 per share Sold 1.000 shares at $6 pershare Sept Dec 1 Crouper Corporation uses the cost method of accounting for treasury stock in 2022, the company reported net income of $30,000. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (List all debit entries before credit entries. Record journal entries in the onder presented in the problem. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Treasury Stock 44000 Cash Cash 18000 Treasury Stock Paid in Capital from Treasury Stock 20000 Tre
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