Woodard Corporation repurchased 3,000 shares of its own stock for $40 per share. The stock has a

Question:

Woodard Corporation repurchased 3,000 shares of its own stock for $40 per share. The stock has a par of $10 per share. A month later Woodard resold 1,500 shares of the treasury stock for $45 per share.

Required

What is the balance of the treasury stock account after these transactions are recognized?

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...