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Treasury stock.Ellison Company's balance sheet shows:

This question was answered on Mar 21, 2010. View the Answer
Treasury stock.Ellison Company's balance sheet shows: Common stock, $20 par $3,000,000
Paid-in capital in excess of par 1,050,000
Retained earnings 750,000
InstructionsRecord the following transactions by the cost method.(a) Bought 5,000 shares of its common stock at $29 a share.
(b) Sold 2,500 treasury shares at $30 a share.
(c) Sold 1,000 shares of treasury stock at $26 a share.

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CH220310_5175_ACC.docx

Treasury stock.
Ellison Company's balance sheet shows: Common stock, $20 par $3,000,000
Paid-in capital in excess of par 1,050,000
Retained earnings 750,000
Instructions
Record the following...

This question was asked on Mar 21, 2010 and answered on Mar 21, 2010.

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