Cal Cookie Company (CCC)has 100 Million Shares of $1 Par

question 22

Essay

Cal Cookie Company (CCC)has 100 million shares of $1 par common stock authorized.The transactions below caused changes in CCC's outstanding shares.
January 4,2016: Repurchased and retired 1 million shares at $8 per share.
June 25,2016: Repurchased and retired 2 million shares at $2 per share.
Prior to the transactions,CCC's shareholders' equity included the following:

Required:
Record entries for the above transactions.

---

Definitions:

Saving

The act of preserving financial resources for future use, often through mechanisms like bank accounts, investments, or pension plans.

Compensating Differential

A difference in wages that arises to offset the desirability or undesirability of a job due to its characteristics.

Alaskan Fishermen

Individuals or groups involved in the fishing industry in Alaska, often dealing with challenges such as overfishing, environmental changes, and regulatory issues.

Gender Discrimination

Unjust treatment of individuals based on their gender, leading to disparity in opportunities, pay, and representation.