Homework Answers
Answer:
| No. | Account titles and explanation | Debit | Credit |
| (a) | Treasury Stock | $ 10,260 | |
| Cash | $ 10,260 | ||
| (To record Treasury Stock purchased) | |||
| (b) | Cash | $ 8,850 | |
| Treasury Stock | $ 8,100 | ||
| Add Paid-In Cap - Treasury Stock | $ 750 | ||
| (To record treasury stock resold) | |||
| ( c) | Cash | $ 1,760 | |
| Add Paid-In Cap - Treasury Stock | $ 400 | ||
| Treasury Stock | $ 2,160 | ||
| (To record treasury stock resold) |
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of $100 par value, 10%, preferred stock and 1,068,600 shares of
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