A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record...
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A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: a. Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method Treasury Stock 12,000 Cash 12,000 b. Sold 500 shares of treasury stock at $15. If an amount box does not require an entry, leave it blank or enter "O" Cash 7,500 V Paid-In Capital from Sale of Treasury Stock 1,000 | X Treasury Stock 6,000 c. Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. If an amount box does not require an entry, leave it blank or enter "O" EquipmentV 75,000 V Cash 25,000 | Common Stock Paid-In Capital in Excess of Par-Common Stock 50,000 X d. Sold 500 shares of treasury stock at $11. If an amount box does not require an entry, leave it blank or enter"0" 5,500 500 Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock 6,000
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