the following data were from taken the records of valencia frutti corpration:share capital, 50 PAR 3,000 SHARES AUTHORIZ...
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the following data were from taken the records of valencia frutti corpration:
share capital, 50 PAR 3,000 SHARES
AUTHORIZED 1,000 shares issuesd....................50,000
premium on share capital..............................................................3,000
retained earnings...............................................................................10,000
REQUIRED:
1.Journal entry record the acquisition of the treasury shares.
2.Journal entry to record the sale of the treasury shares under the three given cases.