Prepare the appropriate general journal entries for the following treasury stock transactions of Aberdeen Inc. Oct. 15 Purchased 7,000 shares of its $15 par common stock for $70,000 and placed the stock in the treasury. Dec.  1 Sold 2,000 shares of the treasury stock for $18,000 cash. Dec. 31 Sold the remaining treasury stock for $56,000 cash.

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Q: provide detailed solution..

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Q: e entries

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Q: 21 )

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Q: On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $49,500 cash. On November…

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A:

Q: Elroy Corporation repurchased 3,300 shares of its own stock for $55 per share. The stock has a par…

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.