Accounting: Purchased 600 shares of common Stock for 31,800 plus brokerage fees of 600. Journalize?

Question:

Answer:
If it's a purchase of another company's shares - then debit investments $32,400, credit cash.

If it's a repurchase of the company's own shares, then - probably - debit treasury stock. Accounting depends on the state you're in and they way that you elect to treat treasury stock repurchases, and whether they're going to be retired and so on.