Llewelyn company purchased 1,200 shares of its own $5 par value common stock when the market price of the stock was $25 per share. which of the following journal entries would be used to record the purchase of treasury stock?

The entry to record the purchase of treasury stock will be an increase in treasury stock account and decrease in the cash account by $30000.

market price of the stock=

Number of shares= 1200.

∴

Treasury stock will be recorded at cost.

Journal entry:

Treasury stock  Dr---------------$30000

                    Cash  Cr-----------------$30000

(Purchased treasury stock)

it was decent, could have been a little better.. how bout you lol.

answer; i believe the correct answer is (a) motion for change of venue;