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Business, 12.02.2021 04:40 kaliyaht01
The December 31, 2021, balance sheet of MBI Company included the following: Common stock, 20 million shares outstanding at $1 par$20,000,000 Paid-in capital—excess of par 100,000,000 Retained earnings 115,000,000 MBI completed the following transactions in 2021 relating to treasury stock: March 17: Reacquired 2 million shares at $10. May 17: Reacquired 2 million shares at $9. August 10: Issued 3 million shares at $12. Required: Prepare journal entries to record the foregoing transactions on a weighted average basis.
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The December 31, 2021, balance sheet of MBI Company included the following: Common stock, 20 million...
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