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Record the transactions by the cost method

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Question - Cheyenne Company's balance sheet shows: Common stock, $20 par $3,200,000 Paid-in capital in excess of par 1,090,000 Retained earnings 720,000

Record the following transactions by the cost method.

(a) Bought 7,900 shares of its common stock at $42 a share.

(b) Sold 3,900 treasury shares at $43 a share.

(c) Sold 1,800 shares of treasury stock at $38 a share.

Reference no: EM132910455

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