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Journalize the purchase and sale of treasury stock

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Reference no: EM132536540

Question - On 1st March 2018Golden Wing Purchased 5,000 own Ordinary shares from the market at Rs. 20 per share.

On 1st May 2018 sold 2,000 treasury stock at Rs. 30 per share.

On 5th July 2018 sold 1,000 treasury stock shares for Rs. 15,000.

Required -

(1) Journalize the purchase and sale of treasury stock?

(2) How it will be reported in balance sheet of the company?

Reference no: EM132536540

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