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Record the treasury stock transactions under the cost method

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Reference no: EM132962759

The original sale of the $50 par value common shares of Ayayai Company was recorded as follows:

Cash 285,000

Common Stock 250,000

Paid-in Capital in Excess of Par35,000

Transactions:

(a) Bought 380 shares of common stock as treasury shares at $61.

(b) Sold 100 shares of treasury stock at $59.

(c) Sold 60 treasury shares at $69.

Problem 1: Record the treasury stock transactions under the cost method.

Reference no: EM132962759

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