Treasury stock transactions
Graves Corporation repurchased 2,000 shares of its own stock for $40 per share. The stock has a par of $10 per share. A month later Graves resold 1,200 shares of the treasury stock for $48-per share.
Required
a. Record the two events in general journal format.
b. What is the balance of the treasury stock account after these transactions?
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.