Record the treasury stock transactions (given below) under the
cost method of handling treasury stock; use the FIFO method for
purchase-sale purposes. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the
amounts.)
(a) | Bought 380 shares of treasury stock at $41 per share. | |
(b) | Bought 310 shares of treasury stock at $46 per share. | |
(c) | Sold 370 shares of treasury stock at $43 per share. | |
(d) | Sold 100 shares of treasury stock at $39 per share |
a | Treasury stock | 15580 | =380*41 | |
Cash | 15580 | |||
b | Treasury stock | 14260 | =310*46 | |
Cash | 14260 | |||
c | Cash | 15910 | =370*43 | |
Treasury stock | 15170 | =370*41 | ||
Paid in capital from Treasury stock | 740 | |||
d | Cash | 3900 | =100*39 | |
Paid in capital from Treasury stock | 650 | |||
Treasury stock | 4550 | =(10*41)+(90*46) | ||
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