Hawk Corporation repurchased 1,000 shares of its own stock for ($ 38) per share. The stock has

Question:

Hawk Corporation repurchased 1,000 shares of its own stock for \(\$ 38\) per share. The stock has a par of \(\$ 10\) per share. A month later Hawk resold 500 shares of the treasury stock for \(\$ 55\) 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?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: