par value = $50

Common Stock $120,000

Paid in excess- Common Stock 36,000

Retained Earnings 30,000 (Credit Balance)

Record the treaury stock transactions given below assuming a FIFO method for purchase/sale purposes under the Cost Method.

A. Bought 300 shares of treasury stock at $63 per share

B. Bought 150 shares of treasury stock at $67 per share

C. Sold 225 shares of treasury stock at $64 per share

D. Sold 120 shares of treasury stock at $58 per share