On July 1, Pearl River Industries purchases 500 of its HK$20 par value ordinary shares for the

Question:

On July 1, Pearl River Industries purchases 500 of its HK$20 par value ordinary shares for the treasury at a cash price of HK$80 per share. On September 1, it sells 350 treasury shares for cash at HK$90 per share. Journalize the two treasury share transactions.

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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