Question

Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the balance in the Treasury Stock account on August 2?

Answer 1

Answer:

The balance in the Treasury Stock account on August 2 is $1,200.

Explanation:

Balance in the Treasury Stock account on August 2

= (100 - 50 - 20)*$40  

= 30*$40

= $1,200

Therefore, The balance in the Treasury Stock account on August 2 is $1,200.

Answer 2

Answer:

Please see attachment

Explanation:

Please see attachment