On August 19, 2019, Portland Corporation repurchases 1,400 shares of its outstanding common stock for $9 per

Question:

On August 19, 2019, Portland Corporation repurchases 1,400 shares of its outstanding common stock for $9 per share. On October 31, 2019, Portland sells 600 shares of treasury stock for $13 per share. Any additional sales of treasury stock during the year were sold for $4 per share. On December 31, 2019, Portland had no remaining treasury stock.

Required:

Prepare the necessary journal entries to record any transactions associated with treasury stock?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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...