Sampson Corporation's only treasury share transactions have been as follows: (1)1,000 common shares were repurchased on June 1,Year 1,for $40,000; (2)On June 1,Year 2,it reissued 500 of these shares at $45 per share; (3)On August 1,Year 2,it reissued the rest of the treasury shares at $38 per share.Calculate the balance in the Contributed Capital,Treasury Share Transactions account on September 1,Year 2.

Question

Quizplus · Accepted Answer

The Answer of Sampson Corporation's only treasury share transactions have been as follows: (1)1,000 common shares were repurchased on June 1,Year 1,for $40,000; (2)On June 1,Year 2,it reissued 500 of these shares at $45 per share; (3)On August 1,Year 2,it reissued the rest of the treasury shares at $38 per share.Calculate the balance in the Contributed Capital,Treasury Share Transactions account on September 1,Year 2.

Sampson Corporation's Only Treasury Share Transactions Have Been as Follows