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:
Abusive Relationship
A pattern of abusive and coercive behaviors used to maintain power and control over another person in an intimate relationship.
Behavioral Therapist
A professional who focuses on modifying negative behaviors through reinforcement strategies and conditioning.
Conditioning
A learning process through which behavior becomes associated with a specific stimulus through reinforcement or punishment.
Observational Learning
The acquisition of knowledge and skills through the observation of others (who are called models) rather than by means of direct experience.
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