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Journalize the transactions of april and june

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Question - ABC Company's statement of financial position for the year 2020 shows: Share capital-ordinary, £10 par £1,500,000

Share premium-ordinary £850,000

Retained earnings £250,000

The following transactions occurred during the year.

April 2: Bought 5,000 ordinary shares at £16 a share.

June 10: Sold 3,000 treasury shares at £19 a share.

November 10: Sold the remaining 2,000 shares of treasury shares at £10 a share.

Required - Journalize the transactions of April 2, June 10, and November 10 (Treasury shares are recorded using the cost method).

List three reasons why ABC Company might have decided to purchase the treasury shares.

Reference no: EM133080333

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