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Record the treasury stock transactions

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Reference no: EM131772566

Question - A company sold $50 par common stock for a total of $290000.oo of which $40000.00 was credited to Paid -in-capital in Excess Par. (You must figure out how many shares were sold).

Record the treasury stock transactions (given below) under the cost method:

A. Bought 280 shares of common stock as treasury shares at $73.

B. Sold 85 shares of treasury stock at$71.

C. sold 35 shares of treasury stock at $76.

Reference no: EM131772566

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