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Question - The original sale of the $50 par value common shares of Wildhorse Company was recorded as follows:
Cash 290,700
Common Stock 255,000
Paid-in Capital in Excess of Par 35,700
Transactions:
(a) Bought 420 shares of common stock as treasury shares at $63.
(b) Sold 100 shares of treasury stock at $60.
(c) Sold 70 treasury shares at $69.
Required - Record the treasury stock transactions (given above) under the cost method.
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in order to encourage employee ownership of the companys 1 par common shares washington distribution permits any of its
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