The Following Information Is Available at January 1, 2019

question 15

Not Answered

The following information is available at January 1, 2019: During 2019, the following transactions occurred:
June 10
Repurchased 1,000 shares of its outstanding common stock for $10 per share.
July 1
Reissued 500 shares of treasury stock for $11 per share.
September 1
Reissued 500 shares of treasury stock for $8.50 per share.
Record journal entries for each of these 2019 transactions.

---

Definitions:

Scones

Scones are a type of baked good, often lightly sweetened and sometimes glazed, typically made of wheat, barley or oatmeal, and baking powder, and served with tea.

Marginal Cost

The swell in total charges associated with crafting an additional unit of a good or service.

Average Variable Cost

The total variable cost divided by the quantity of output produced, representing the variable cost for each unit of output.

Meals

Prepared food items or servings eaten or intended to be eaten at any particular time, such as breakfast, lunch, or dinner.