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Hector Company had a retained earnings balance of $58,000 on January 1, 2020. During the year, company had the following treasury stock transactions. Feb. 15
Hector Company had a retained earnings balance of $58,000 on January 1, 2020. During the year, company had the following treasury stock transactions. Feb. 15 Purchased 12,000 shares at $10 per share. May 6 Sold 5,000 shares at $11.5 per share. Oct. 14 Sold 4,000 shares at $9.25 per share. Nov. 29 Sold 3,000 shares at $8 per share. Hector uses the cost method of accounting for treasury stock. Journalize the treasury stock transactions.
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