The rolek company was involved in the following treasury

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Reference no: EM13600445

The Rolek Company was involved in the following treasury stock transactions during 2010:
A. Purchased 40,000 shares of its $1 par value common stock on the market for $2.50 per share.
B. Purchased 8,000 shares of its $1 par value common stock on the market for $2.80 per share.
C. Sold 22,000 shares purchased in (a) for $65,500.
D. Sold the other 18,000 shares purchased in (a) for $36,000.
E. Sold 3,000 of the remaining shares of treasury stock for $1.60 per share.
F. Retired all the remaining shares of treasury stock. All shares originally were issued at $1.50 per share.
1. Record the treasury stock transactions in T accounts.

Reference no: EM13600445

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