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djrboys
Jan 23, 2009, 09:51 AM
Hi,

I need to know how to account for a stock redemption by a company. This happened in Massachusetts and as I understand it, there is no treasury stock allowed. What are the journal entries involved?

Thanks

Bill
codyman144
Jan 23, 2009, 01:25 PM
Was the stock purchased back by the company and held or was the stock retired (dissolved) when the company re-acquired it?

Either way I would have to check my textbook as I don't know off hand.