Treasury stock.Agler Corporation's balance sheet reported the following: The following transactions occurred this year:
(a) Purchased 200 shares of capital stock to be held as treasury stock, paying $60 per share.
(b) Sold 150 of the shares of treasury stock at $65 per share.
(c) Sold the remaining shares of treasury stock at $50 per share.
InstructionsPrepare the journal entry for these transactions under the cost method of accounting for treasury stock.

Question

Treasury stock.Agler Corporation's balance sheet reported the following:  The following transactions occurred this year:
(a) Purchased 200 shares of capital stock to be held as treasury stock, paying $60 per share.
(b) Sold 150 of the shares of treasury stock at $65 per share.
(c) Sold the remaining shares of treasury stock at $50 per share.
InstructionsPrepare the journal entry for these transactions under the cost method of accounting for treasury stock.

Quizplus · Accepted Answer

The Answer of Treasury stock.Agler Corporation's balance sheet reported the following:  The following transactions occurred this year:
(a) Purchased 200 shares of capital stock to be held as treasury stock, paying $60 per share.
(b) Sold 150 of the shares of treasury stock at $65 per share.
(c) Sold the remaining shares of treasury stock at $50 per share.
InstructionsPrepare the journal entry for these transactions under the cost method of accounting for treasury stock.

Treasury Stock