Question

What does the 62000 gain on sale of treasury stock represent?

Answer 1

Treasure stock represents the stock that is bought back by the company who reduces the stock on the open market. A debit balance will count the general ledger account when a corporation has this stock. The statement just refers to the amount that was gained on the sale of the treasury stock which is 62,000.

Answer 2

Reissuing the 5 shares have on the company's paid-in capital from treasury stock transactions account Increase additional paid-in capital by $25 and Issued 200 shares of $12 par value common stock for $25 a share. Five hundred shares are authorized.