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Problem 4. Record the treasury stock transactions (given below) under the cost method: Transactions: 1. Bought 400 shares of the $50 par value common stock as treasury shares at $62. 2. Sold 120 shares of treasury stock at $65. 3. Sold 60 treasury shares at $50.

Problem 4. Record the treasury stock transactions (given below) under the cost method: Transactions: 1. Bought 400 shares of the $50 par value common stock as treasury shares at $62. 2. Sold 120 shares of treasury stock at $65. 3. Sold 60 treasury shares at $50.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Problem 4. Record the treasury stock transactions (given below) under the cost method: Transactions: 1. Bought 400 shares of the $50 par value common stock as treasury shares at $62. 2. Sold 120 shares of treasury stock at $65. 3. Sold 60 treasury shares at $50.
Transcribed Image Text:Problem 4. Record the treasury stock transactions (given below) under the cost method: Transactions: 1. Bought 400 shares of the $50 par value common stock as treasury shares at $62. 2. Sold 120 shares of treasury stock at $65. 3. Sold 60 treasury shares at $50.
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