15-5

Before Waterway Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances (par value of its stock is $30per share).

Paid-in Capital in Excess of ParCommon Stock

Common Stock

Retained Earnings

$98,100

$245,400

$78,600

Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(a)Bought400shares of treasury stock at $41per share.(b)Bought290shares of treasury stock at $43per share.(c)Sold370shares of treasury stock at $43per share.(d)Sold110shares of treasury stock at $39per share.

No.

Account Titles and Explanation

Debit

Credit

(a)

(b)

(c)

(d)