Problem 15-2 - (a) Feb. 1 Treasury Stock ($19 X 2,000) ....

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(a) Feb. 1 Treasury Stock ($19 X 2,000) . .................. 38,000 Cash. ...................................................... 38,000 Mar. 1 Cash ($17 X 800). .......................................... 13,600 Retained Earnings ($2 X 800). .................. 1,600 Treasury Stock ($19 X 800) . ........... 15,200 Mar. 18 Cash ($14 X 500). .......................................... 7,000 Retained Earnings ($5 X 500). .................. 2,500 Treasury Stock ($19 X 500) . ........... 9,500 Apr. 22 Cash ($20 X 600). .......................................... 12,000 Treasury Stock ($19 X 600) . ........... 11,400 Paid-in Capital from Treasury Stock. ................................................ 600 (b) CLEMSON COMPANY Stockholders’ Equity April 30, 2010 Common stock, $5 par value, 20,000 shares issued, 19,900 shares outstanding. ........................ $100,000 Paid-in capital in excess of par—common . .............. 300,000 Paid-in capital from treasury stock . ............................ 600 Total paid-in capital. ............................................ 400,600
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