Record treasury stock transactions using cost method

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Reference no: EM13125325

The original sale of $50 par value common shares of Gray Co. was recorded as follows: Cash 290,000, Common Stock 250,000; Paid in Cap. in Excess of Par 40,000

Record treasury stock transactions using cost method for:

a) bought 300 shares of common stock as treasury shares@ 62

b) sold 80 shares of treasury stock at 60

c) sold 40 treasury shares at 68.

Reference no: EM13125325

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