On May 1, Z Company repurchased (bought back) 12,000 shares of its own $2 par common stock as treasury stock at a cost of $10 per share. On September 1, Z Company resold 5,000 shares of its treasury stock when the market prices was $15 per share. What is the ending balance in Treasury Stock? What is the ending balance in in the Paid-In Treasury Stock?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On May 1, Z Company repurchased (bought back) 12,000 shares of its own $2 par common stock as treasury stock at a cost of $10 per share. On September 1, Z Company resold 5,000 shares of its treasury stock when the market prices was $15 per share. What is the ending balance in Treasury Stock? What is the ending balance in in the Paid-In Treasury Stock?

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