Record the following transactions of a company in general journal form.
(a) Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
(b) Sold 2,000 shares of stock reacquired under part (a) at $43 cash per share.
(c) Sold 3,000 shares of the stock reacquired under part (a) at $39 cash per share.© BrainMass Inc. brainmass.com June 3, 2020, 11:57 pm ad1c9bdddf
A Debit Treasury Stock - 320,000
Credit Cash - 320,000 (40*8000)
B Debit ...
The solution provides journal entry for treasury stock sale & purchase transactions.