On January 20, 2019, Spring Hope Corporation repurchases 2,600 shares of its outstanding common stock for $9

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On January 20, 2019, Spring Hope Corporation repurchases 2,600 shares of its outstanding common stock for $9 per share. On April 3, 2019, Spring Hope sells 700 shares of treasury stock for $13 per share. On October 29, 2019, Spring Hope sells the remaining 1,900 shares of its treasury stock for $6 per share.
Required:
Prepare the journal entries to record these transactions?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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