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Preparing Entries for Treasury Stock Transactions Charter Inc. has 600,000 shares of $1 par...

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Accounting

Preparing Entries for Treasury Stock Transactions
Charter Inc. has 600,000 shares of $1 par common stock outstanding at the beginning of the year. Prepare entries for the following
transactions affecting stockholders' equity. Assume Paid-In Capital-Treasury Stock has a zero beginning balance.
a. Jan. 31: Purchased common stock as treasury shares, 1,200 shares at $15 per share.
b. Sep. 15: Sold common treasury stock, 200 shares at $17 per share.
c. Dec. 20: Sold common treasury stock, 250 shares at $13 per share.
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