Treasury Stock-Cost Method Before Gordon Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances and par value. $ Paid-in Capital in Excess of Par - Common Stock Common Stock Retained Earnings Par value of common stock 99,000 270,000 80,000 30.00 per share $ Instructions: Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (a) Purchase of treasury stock Number of shares Cost per share 380 40.00 $ Credit Debit 15,200 Treasury Stock Cash 15,200 (b) Purchase of treasury stock Number of shares Cost per share 300 45.00 $ Credit Debit 13,500 Treasury Stock Cash 13,500 (c) Sale of treasury stock Number of shares Price per share 350 42.00 $ Credit Debit 14,700 Cash Treasury Stock Paid-in Capital from Treasury Stock 14,000 700 (d) Sale of treasury stock Number of shares Price per share 110 38.00 $ Debit Credit Please Review Please Review Please Review