McVie Corporation’s stock has a par value of $1. The company has the following transactions during the year: Mar. 31 Issued 30,000 shares at $20 share Jul. 9 Issued 10,000 shares in exchange for a building with a clearly determined value of $70,000 Aug. 30 Purchased 5,000 shares of treasury stock at $19 per share Oct. 31 Sold 1,000 shares of treasury stock at $23 per share Journalize these transactions Date Account Debit Credit 31-Mar 9-Jul 30-Aug 31-Oct

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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.