On July 1, Pearl River Corporation purchases 500 shares of its HK$50 par value ordinary shares for

Question:

On July 1, Pearl River purchases 500 shares of its HK$50 ordinary shares for the treasury at a cash price of HK$90 per share. On September 1, it sells 300 treasury shares for cash at HK$110 per share. Journalize the two treasury share transactions.

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... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...