Accounting for sale of treasury stock, Financial Accounting

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Accounting for sale of treasury stock

Response to the following :

Accounting for Sale of Treasury Stock at Price Higher than Cost

Refer to the data in problem. The company resells 400 shares of treasury stock for $40 per share. Make the necessary journal entry(ies) to record this transaction.

Problem:

Accounting for Stock Repurchases

The company repurchased 1,500 shares of $1 par-value common stock for $32 per share from the open market. Make the necessary journal entry(ies) to record this transaction.

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Financial Accounting: Accounting for sale of treasury stock

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