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Problem 15-5 Before Whispering Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances (par value
Problem 15-5 Before Whispering 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 Stock $265,200 Retained Earnings $87,300 $91,100 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) Bought 390 shares of treasury stock at $40 per share. (b) Bought 280 shares of treasury stock at $44 per share. (c) Sold 370 shares of treasury stock at $42 per share. (d) Sold 110 shares of treasury stock at $38 per share. No. Account Titles and Explanation Debit Credit (d) Click if you would like to Show Work for this question: Open Show Work
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