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:
Important Values
Fundamental beliefs or standards that guide behaviors and decision-making.
Valuing Process
The act of assessing and recognizing the importance, worth, or usefulness of something or someone in a particular context.
Values Drift
The gradual shift in the core beliefs, principles, and values of an individual or organization over time.
Legal And Ethical
Pertaining to the adherence to both the law and moral guidelines in decision-making processes to ensure fairness, justice, and integrity.
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