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    Transactions of a company in general journal form for common stock

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    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 the 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.

    What is the difference between reaquired stock and the initially purchased stock?

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    https://brainmass.com/business/the-accounting-cycle/transactions-of-a-company-in-general-journal-form-for-common-stock-253626

    Solution Preview

    Transaction a
    Treasury Stock 320,000
    Cash 320,000
    Transaction b
    Cash 86,000
    Treasury Stock 80,000
    APIC - ...

    Solution Summary

    The solution examines transactions for company general journal form for a common stock.

    $2.49

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