(SOLVED)- Elroy Corporation repurchased 4 000 shares of its own stock for


Question Description:

$19

Elroy Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later Elroy resold 900 shares of the treasury stock for $32 per share.
Required
a. Record the two events in general journal format.
b. What is the balance of the treasury stock account after these transactions?

Answer

$19