Information for Questions 28 to 33: During 2017 and 2008, Akami Inc made the following...
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Information for Questions 28 to 33: During 2017 and 2008, Akami Inc made the following stock re-purchases: 3/5/2017 repurchased 12,000 shares at $ 23.50 7/18/2017 repurchased 32,000 shares at $ 26.25 4/16/2018 repurchased 24,000 shares at $ 27.12 Then, in 2019, Akami sold treasury stock in the following two transactions: 2/4/2019 sold treasury stock 16,000 shares at $ 28.50 4/3/2019 sold treasury stock 12,000 shares at $ 29.00 Question 28 Provide the journal entry to record the treasury stock purchased on 7/18/2017. Question 29 Provide the journal entry to record the treasury stock sale on 2/4/2019 if Akami uses the average cost method. Question 30 Provide the journal entry to record the treasury stock sale on 2/4/2019 if Akami uses the FIFO cost method. Question 31 Provide the journal entry to record the treasury stock sale on al entry to record the treasury stock sale on 4/3/2019 if Akami uses the FIFO cost method. Question 32 Provide the journal entry to record the treasury stock sale on 2/4/2019 if Akami uses the LIFO cost method. Question 33 Provide the journal entry to record the treasury stock sale on 4/3/2019 if Akami uses the LIFO cost method. Question 31 Provide the journal entry to record the treasury stock sale on al entry to record the treasury stock sale on 4/3/2019 if Akami uses the FIFO cost method. Question 32 Provide the journal entry to record the treasury stock sale on 2/4/2019 if Akami uses the LIFO cost method. Question 33 Provide the journal entry to record the treasury stock sale on 4/3/2019 if Akami uses the LIFO cost method
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