Novaton plc purchased 5 million of its ( 1) ordinary shares for ( 6.40) each on 29
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Novaton plc purchased 5 million of its \(£ 1\) ordinary shares for \(£ 6.40\) each on 29 March 2012. The shares were held as treasury shares.
On 10 September 2012, Novaton sold 1.4 million of these shares at a price of \(£ 6.60\) each.
The remaining treasury shares were sold at \(£ 6.33\) on 13 October 2012.
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Prepare journal entries to record the above transactions.
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Financial Accounting And Reporting
ISBN: 9780077138363
2nd Edition
Authors: John McKeith, Bill Collins
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