Solved: Moore corporation repurchased 4000 shares of its own stock, Accounting Basics

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Moore corporation repurchased 4000 shares of its own stock

Moore Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later Moore resold 2,500 shares of the treasury stock for $35 per share.

Required :

a. Record the two events in general journal format.

b. What is the balance of the treasury stock account after these transactions?

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Accounting Basics: Moore corporation repurchased 4000 shares of its own stock

Reference No:- TGS01215861

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Accounting Basics: Moore corporation repurchased 4000 shares of its own stock

Reference No:- TGS01215861

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