Refer to the information for Dao Company in SE8. On October 28, 2014, Dao retired the remaining

Question:

Refer to the information for Dao Company in SE8. On October 28, 2014, Dao retired the remaining 700 shares of treasury stock. The shares were originally issued at $5 per share. Prepare the necessary journal entry.
In SE8. Prepare the journal entries necessary to record Dao Company’s following stock transactions during 2014:
Oct. 1 Purchased 2,000 shares of its own $2 for $20 per share, the current market price.
17 Sold 500 shares of treasury stock purchased on October 1 for $25 per share.
21 Sold 800 shares of treasury stock purchased on October 1 for $18 per share.

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... 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,...