Question - Learning Objectives: Recording treasury stock transactions and measuring their effects on stockholders' equity
Journalize the following transactions of Aliant Productions:
Jan 17 - Issued 2,200 shares of $2.50 par common stock at $10 per share.
May 23 - Purchased 300 shares of treasury stock at $12 per share.
Jul 11 - Sold 200 shares of treasury stock at $20 per share.
What was the overall effect of these transactions on Aliant's stockholders' equity?