Oregon Outfitters issues 1,000 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to repurchase 200 shares at a cost of $22 per share. (1) Record the original issue of the 1,000 shares, (2) Record the repurchase of 200 shares, and (3) Record the entry if Oregon Outfitters reissues the 200 shares of treasury stock at $25 per share.

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The Answer of Oregon Outfitters issues 1,000 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to repurchase 200 shares at a cost of $22 per share. (1) Record the original issue of the 1,000 shares, (2) Record the repurchase of 200 shares, and (3) Record the entry if Oregon Outfitters reissues the 200 shares of treasury stock at $25 per share.

Oregon Outfitters Issues 1,000 Shares of $1 Par Value Common