Problem 15 2 (Part Level Submission) Riverbed Company had the following stockhol

Question

Problem 15 2 (Part Level Submission) Riverbed Company had the following stockholders equity as f January 1, 2017. Common stack, $5 par value, 18,400 shares issued Paid-in capital in excess of par-common stock Retained earnings 07,000 303,000 18,000 Total stockholders equity 713,00 During 2017, the following transactions occurred Feb. 1 Riverbed repurchased 2,100 shares of treasury stock at a price of $17 per share. Mar. 1 090 shares of treasury stock repurchased above were reissued at $15 per share. Mar. 18 180 shares of treasury stock rcpurchased above were reissud at $11 per share Apr. 22 610 shares of treasury stock repurchased above were relssued at $20 per share. ver bed uses the cost me hod Credit dccount t es dre dutorld Cal y ?dented when dmount rs entered Do not indent manual y If llo entry is required Entry Prepare the Iournal en res o record he reasury s ock transactions in 2017 assuming for the account titles and enter O for the amounts.) Select Date Account Titles and Explanation Debet Credit eb. 1 Treabury Stock Mat. 1 Earnings easury Stock Mar. 18 Cash Retained Earnings Stock Apr. 22 Treasury Stock n Capital from Treasury Stock

Explanation / Answer

Date Account Debit credit Feb1 Treasury stock 35700 cash [2100*17] 35700 mar 1 cash [880*15] 13200 Retained earning 1760 Treasury stock [880*17] 14960 mar 18 cash [480*14] 6720 Retained earning 1440 Treasury stock [480*17] 8160 apr 22 cash [610*20] 12200 Additional paid in capital -treasury stock 1830 Treasury stock [610*17] 10370

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