A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: (a) Purchased 1,500 shares of treasury stock at $ \$ 16 $. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares.
(b) Sold 1,000 shares of treasury stock at $ \$ 19 $.
(c) Purchased equipment for $ \$ 80,000 $, paying $ \$ 25,000 $ in cash and issuing 4,000 shares of common stock for the remaining.
(d) Sold 500 shares of treasury stock at $ \$ 14 $.

Question

Quizplus · Accepted Answer

The Answer of A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: (a) Purchased 1,500 shares of treasury stock at $ \$ 16 $. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares.
(b) Sold 1,000 shares of treasury stock at $ \$ 19 $.
(c) Purchased equipment for $ \$ 80,000 $, paying $ \$ 25,000 $ in cash and issuing 4,000 shares of common stock for the remaining.
(d) Sold 500 shares of treasury stock at $ \$ 14 $.

A Company Has 10,000 Shares of $10 Par Common Stock $16 \$ 16 $16

A Company Has 10,000 Shares of $10 Par Common Stock $\$ 16$