Record the purchase of treasury stock

Reference no: EM131522040

Question: Refer to the situation described in BE10-8. Record the transaction if California Surf reissues the 100 shares of treasury stock at $30 per share. How would it be different if the shares reissue at $26 per share rather than at $30 per share?

BE10-8: California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $25 per share. Later in the year, the company decides to repurchase 100 shares at a cost of $28 per share. Record the purchase of treasury stock.

Reference no: EM131522040

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