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Z Co. purchased 1000 shares for the treasury at $4 per share. 400 of these shares were re-issued at $6 per share. Subsequently, sold another
Z Co. purchased 1000 shares for the treasury at $4 per share. 400 of these shares were re-issued at $6 per share. Subsequently, sold another 500 shares at $3 per share. The balance of the shares of treasury stock was retired. These shares had a par value of $2 per share and were originally issued at $5 per share. Record the above transactions in the books of Z co
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