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Q9. A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record...

Q9. A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: (a) Purchased 1,500 shares of treasury stock at $16. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares. (b) Sold 1,000 shares of treasury stock at $19. (c) Purchased equipment for $80,000, paying $25,000 in cash and issuing 4,000 shares of common stock. (d) Sold 500 shares of treasury stock at $14.

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The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

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