On July 1, Pearl River Corporation purchases 500 shares of its HK$50 par value ordinary shares for

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On July 1, Pearl River Corporation purchases 500 shares of its HK$50 par value ordinary shares for the treasury at a cash price of HK$90 per share. On September 1, it sells 300 treasury shares for cash at HK$110 per share. Journalize the two treasury share transactions.

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...
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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Financial accounting

ISBN: 978-1118285909

IFRS Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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