Charmed, Inc. has 10,000 shares of treasury stock which it purchased for $10/share. It later resold 3,000 of those shares for $18/share. The amount to be credited to Paid-in Capital-Treasury Stock is:

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The amount to be credited to Paid-in Capital-Treasury Stock is the excess of the selling price over the cost of the treasury shares sold. The cost of the 3,000 shares is 3,000 x $10 = $30,000. They were sold for 3,000 x $18 = $54,000. The excess, which is $54,000 - $30,000 = $24,000, is credited to Paid-in Capital-Treasury Stock.