Homework Help: Business Accounting

Posted by Peaches on Friday, December 18, 2009 at 2:50pm.

Please how i write this up in a journal entry: The stockholders’ equity section of Joe’s Bistro’s balance sheet on January 1: Common stock $2 par, 2,000 share issued and outstanding – 4,000; Additional Paid-in Capital – 1,600; retained earnings – 5,400. On March 1, Joe’s Bistro reacquired 600 shares of common stock at $10 per share. Joe’s Bistro sold all of the treasury shares on November 15 for $12 per share. The entry to record the sale of November 15 would include a credit to what account and for what amount?

Business Accounting - SraJMcGin, Friday, December 18, 2009 at 7:30pm
Here are some Tutorials:

http://www.google.com/search?q=Journal+entry+tutorial&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Sra
Business Accounting - Peaches, Saturday, December 19, 2009 at 9:49am
I review the tutorials but there is nothing concerning how should i calculate the question.
Business Accounting - Peaches, Friday, January 1, 2010 at 3:09pm
I think i got it but is the journal entry correct.

Dr Cash (600 x 12) --- 7,200
Cr Treasury Stock (100 x10)---- 6,000
Cr Paid-In Capital--------------1,200

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