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.