On January 1, 20X1, Wooden Company issued 16,000 shares of $2 par value common stock for $120,000. On March 1, 20X1, the company purchased 2,000 shares of its common stock for $15 per share for the treasury.     Journalize the stock transactions of Wooden Company in 20X1

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.