Elroy Corporation repurchased 1,100 shares of its own stock for $55 per share. The stock has a par of $10 per share. A month later Elroy resold 275 shares of the treasury stock for $63 per share. Required What is the balance of the Treasury Stock account after these transactions are recognized? Balance of treasury stock
Elroy Corporation repurchased 1,100 shares of its own stock for $55 per share. The stock has a par of $10 per share. A month later Elroy resold 275 shares of the treasury stock for $63 per share. Required What is the balance of the Treasury Stock account after these transactions are recognized? Balance of treasury stock
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Treasury stock: Shares which are bought back by the company from the open market but not retired from the company stock is called Treasury stock. The purchase/reacquisition of issued shares from the open market, decreases the number of outstanding shares.
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