Answer and Explanation:
Date Account Title and Explanation Debit Credit
Feb 1 Treasury Stock (2000*$19) $38,000
Cash (2000*$19) $38,000
(Repurchased 2,000 treasury stock @ $19 per)
Mar 1 Cash (870*$17) $14,790
Retained Earning {870*($19-$17)} $1,740
Treasury Stock(870*$19) $16,530
(Reissued 870 out of 2000 treasury stock @ $17 per)
Mar 18 Cash (530*$13) $6,890
Retained Earning {530*($19-$13)} $3,180
Treasury Stock(530*$19) $10,070
(Reissued 530 out of 2000 treasury stock @ $13 per)
Apr 22 Cash (510*$21) $10,710
Treasury Stock(510*$19) $9,690
Paid in Capital from Treasury Stock{510*($21-$19)} $1,020
(Reissued 510 out of 2000 treasury stock @ $17 per)
NOTE : loss of sale should be charges from Retained Earning.
