Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par...

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Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per sh

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Answer 1

Answer #1

Date	Accounts	debit	credit

Jan-02	Cash	225000
	(15000*15)
	Common stock		150000
	(15000*10)
	Paid in capital in excess of par		75000

Mar-01	Treasury Stock	20000
	Cash		20000
	(1000*20)

Sep-01	Cash	11000
	(500*22)
	Paid in capital in excess of par		1000
	Treasury stock		10000
	(500*20)

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Answer 2

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