Lipe company reports the following transactions jan 15, Ask an Expert

Accounting

Lipe Company reports the following transactions: Jan 15 Issued 25, 000 shares of $5 par value common stock at $17 cash per share. Mar 31 Purchased 3, 000 shares of its own common stock at $20 cash per share. June 25 Sold 2, 000 shares of its treasury stock at $26 cash per share.

Calculate the net increase in the Treasury Stock account as a result of the above transactions.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92021341

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