MHF Corporation has 500,000 shares of $5 par common stock outstanding on 1/1/20

1. On 3/1/20, the company repurchased 100,000 shares for $12 per share

2. On 6/1/20, the company resold 40,000 of the shares purchased in item 1 for $18 per share

3. On 11/1/20, the company resold 45,000 of the shares purchased in item 1 for $4 each

Record the three transactions in t accounts.

Answer rating: 100% (QA)

Assume that the shares were purchased in the open market ... View the full answer