On February 2nd of the Current Year, Bradley's Video Games

question 83

Essay

On February 2nd of the current year, Bradley's Video Games, Inc. reacquired 5,000 shares of its $10 par value common stock at $50 per share. On February 23rd, Bradley's Video Games, Inc. sold 1,000 of the reacquired shares at $65 per share. On February 27th, the remaining 4,000 shares were sold at $40 per share.
Required:
1. Prepare the journal entries necessary to record these transactions.
2. What is the balance in the treasury stock account on February 28th?

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Definitions:

Indian Culture

The diverse and rich traditions, languages, art, architecture, music, and customs of the Native American peoples.

French And Indians

Often relates to the French and Indian War (1754-1763) in North America where France allied with various Native American tribes against Britain.

Champlain

Samuel de Champlain, a French explorer known for founding New France and Quebec City in the early 17th century.

Quebec City

The capital city of the Canadian province of Quebec, known for its rich history and French heritage.