Extracted text: <> () Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital from Treasury Stock Treasury Stock Retained Earnings eTextbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer (2) The parts of this question must be compieted in order This part will be available when you complete the part above.
Extracted text: Concord Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($4 par) $400,000, Paid-in Capital in Excess of Par-Common Stock $185,000, and Retained Earnings $120,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 6,000 shares at $9 per share. June 1 Sold 1,500 shares at $13 per share. Sept. 1 Sold 1,000 shares at $11 per share. Dec 1 Sold 1,000 shares at $7 per share. Concord Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $35,000. (e) Correct Answer (Used). Journalize the treasury stocktransactions, and prepare the closing entry at December 31, 2022, for net income. (List all debit entries before credit entries, Record journal entries in the order presented in the problem. Credit account titles are automatically indented. when amount is entered. Do not indent manually) Date Account Titles and Explanation Credit lar, 1 0000 Cash 19.500 taur Treasury Stock 13.500 Pald-In Capltal from Treasury Stock 0000 Cash Treasury Stock 000 6 Pald-in Capltal from Treasury Stock Cash Pald-In Capltal from Treasury Stock D00 Treasury Stock ec. 31 Income Summary