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Illusions, Inc. reacquired 29,000 shares of its common stock for $16 per share on June 1. On July 1 they sold 6,000 shares for $24
Illusions, Inc. reacquired 29,000 shares of its common stock for $16 per share on June 1. On July 1 they sold 6,000 shares for $24 per share. On August 1 they sold 5,000 shares for $14 per share. Assuming no prior balance in the Additional Paidminusin Capital from Treasury Stock Transactions account, what is the ending balance in this account following these transactions?
The answer is $38,000 credit balance. I want to know how to calculate.
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