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Journalize the sale transaction

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Question 1 - Kagan Corporation was organized on January 2, 2014. During 2014, Kagan issued 40,000 shares at $24 per share, purchased 6,000 shares of treasury stock at $26 per share, and had net income of $600,000. What is the total amount of stockholders' equity at December 31, 2014?

Question 2 - Victory Corporation sold 400 shares of treasury stock for $45 per share. The cost for the shares was $35. Journalize the sale transaction.

Reference no: EM132892525

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