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Bramble Corp. issued 100000 shares of $10 par common stock for $1320000. A year later Bramble acquired 16500 shares of its own common stock
Bramble Corp. issued 100000 shares of $10 par common stock for $1320000. A year later Bramble acquired 16500 shares of its own common stock at $15 per share. Three months later Bramble sold 8200 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 8200 treasury shares, Bramble should credit O Treasury Stock for $123000 and Paid-in Capital in Excess of Par for $32800. O Treasury Stock for $82000 and Paid-in Capital from Treasury Stock for $73800. O Treasury Stock for $123000 and Paid-in Capital from Treasury Stock for $32800. O Treasury Stock for $155800.
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