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Need help with these 2 questions. Please show work so I can understand what I'm missing Before Skysong Corporation engages in the treasury stock transactions
Need help with these 2 questions. Please show work so I can understand what I'm missing
Before Skysong 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 $30 per share) Paid-in Capital in Excess of Par- Common Stock Common Retained StockEarnings $104,300 $259,800 $81,700 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 O for the amounts.) (a) (b) (c) (d) Bought 400 shares of treasury stock at $38 per share. Bought 300 shares of treasury stock at $45 per share. Sold 340 shares of treasury stock at $40 per share. Sold 100 shares of treasury stock at $36 per share. No. Account Titles and Explanation DebitStep by Step Solution
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