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3. Several years ago, Fortune Company issued 20,000 shares of $5 par value common stock for $26 per share. Since that time, the company
3. Several years ago, Fortune Company issued 20,000 shares of $5 par value common stock for $26 per share. Since that time, the company entered into several treasury stock transactions. Assume that additional paid-in capital from treasury stock transactions is zero. Read the requirements. a. Purchased 13,000 shares of common shares as treasury stock at $30. Account Current Year |(1) (2) |(3) (4) b. Sold 9,000 shares of treasury stock for a total of $180,000. Account Current Year (5) (6) (7) (8)
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