Corporacin Estrella purchased 5,000 outstanding shares (which had already been issued) from its shareholders and paid $250,000.00

Corporación Estrella purchased 5,000 outstanding shares (which had already been issued) from its shareholders and paid $250,000.00 for them. Some time after this transaction, he resold 2,000 shares for a price of $53 per share, then resold another 2,000 shares for a price of $48 per share, and finally resold 1,000 shares for a price of $43 per share.

Prepare records in the Journal of the purchase of the outstanding shares and the three sales of shares in treasury.

You must record each and every transaction in the Journal of Shares in Treasury.

Write down the results of your calculations in writing

Answer rating: 100% (QA)

Journal entries for the transactions are as follows 1 Purchase of 5000 outstanding shares for 250000 ... View the full answer