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Exercise 11-12A (Algo) Treasury stock transactions LO 11-5 Elroy Corporation repurchased 2,500 shares of its own stock for $35 per share. The stock has a par of $20 per share. A month later, Elroy resold 625 shares of the treasury stock for $43 per share. Required What is the balance of the Treasury Stock account after these transactions? Balance of treasury stock

Exercise 11-12A (Algo) Treasury stock transactions LO 11-5 Elroy Corporation repurchased 2,500 shares of its own stock for $35 per share. The stock has a par of $20 per share. A month later, Elroy resold 625 shares of the treasury stock for $43 per share. Required What is the balance of the Treasury Stock account after these transactions? Balance of treasury stock

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 11-12A (Algo) Treasury stock transactions LO 11-5 Elroy Corporation repurchased 2,500 shares of its own stock for $35 per share. The stock has a par of $20 per share. A month later, Elroy resold 625 shares of the treasury stock for $43 per share. Required What is the balance of the Treasury Stock account after these transactions? Balance of treasury stock
Transcribed Image Text:Exercise 11-12A (Algo) Treasury stock transactions LO 11-5 Elroy Corporation repurchased 2,500 shares of its own stock for $35 per share. The stock has a par of $20 per share. A month later, Elroy resold 625 shares of the treasury stock for $43 per share. Required What is the balance of the Treasury Stock account after these transactions? Balance of treasury stock
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