Before Splish Corporation engages in the treasury stocktransactions listed below, its general ledger reflects, amongothers, the following account balances (par value of its stock is$30 per share).
Paid-in Capital in Excess of Par—CommonStock | | Common Stock | | Retained Earnings |
$106,500 | | $259,500 | | $80,000 |
Record the treasury stock transactions (given below) under the costmethod of handling treasury stock; use the FIFO method forpurchase-sale purposes. (Credit account titles areautomatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for theaccount titles and enter 0 for theamounts.)
| (a) | | Bought 390 shares of treasurystock at $40 per share. |
| (b) | | Bought 310 shares of treasurystock at $44 per share. |
| (c) | | Sold 340 shares of treasurystock at $42 per share. |
| (d) | | Sold 110 shares of treasurystock at $38 per share. |
please explain detail
