Answer Happy

Before Fury Tyson Corp. engages in the treasury stock
transactions listed below, its general ledger reflects, among
others, the following account balances:
Common stock, $30 par value

$270,000
APIC –
C/S
99,000
Retained earnings

80,000
Instructions:
Record the treasury stock transactions listed below under the
cost method of accounting for treasury stock; use the FIFO method
for purchase – sale purposes.
A. Purchased 380 shares of treasury stock for $40 per share
B. Purchased 300 shares of treasury stock for $45 per share
C. Reissued 350 shares of treasury stock for $42 per share
D. Reissued 110 shares of treasury stock for $38 per share