Question

The stockholders' equity section of the January 1, 2019
balance sheet for TL Company is given below:

Common stock, $8 par ..........................  $232,000
Paid-in capital – common stock ................   319,000
Treasury stock (12,000 shares at $13 cost) ....   156,000
Paid-in capital – treasury stock ..............    12,000
Retained earnings .............................    71,000

TL Company entered into the following transactions during
the month of January:

January 6    Re-issued 2,000 of the treasury shares for $9
             per share

January 14   Re-issued 3,000 of the treasury shares for $11
             per share

January 19   Issued 4,500 shares of previously un-issued
             common stock for $22 per share

January 28   Re-issued 3,500 of the treasury shares for $17.50
             per share

Calculate the balance in the paid-in capital - treasury stock
account after all of the above transactions have been recorded
and posted.

Answer 1

balance in paid in capital-Treasury Stock

Beginning balance	12000
Jan 6 (13-9)*2000	-8000
Jan 14 (13-11)*3000	-4000
Jan 28 (17.50-13)*3500	15750
Balance in paid in capital treasury stock	15750