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Why do managers engage in treasury stock transaction

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Reference no: EM132545550

Record the following treasury stock transactions:

5/1/2018 Purchase of 10,000 shares of $10 par value at $80 per share ($800,000)

5/31/2018 Sales of 2,000 shares at $85 per share ($170,000)

10/2/2018 Sales of 3,000 share at $72 per share ($216,000)

Question 1: What is a treasury stock? Why do managers engage in treasury stock transaction? Explain.

Reference no: EM132545550

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