*Treasury shares
Zambia Ltd. currently has 150,000 no par value common shares outstanding, with a carrying value of $ 3,900,000.
Instructions
Record the following transactions:
a) Purchased 1,500 common shares at $ 29 per share, to be held as treasury shares
b) Sold 800 treasury shares at $ 30 a share
c) Retired the rest of the treasury shares
Correct Answer:
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\text{ a) Treasury s...
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