(Solved by Humans)-ZYX reported: Common stock outstanding, 1,000 shares (par $20) $20,000 Contributed capital in excess
Question
ZYX reported: Common stock outstanding, 1,000 shares (par $20) $20,000 Contributed capital in excess of par 1,000 Retained earnings 50,000 ZYX bought 15 shares to be held as treasury stock for cash at $25 per share. Sold 5 of the treasury shares at $27 per share Required: Give all entries required, assuming the par value method is used: Give all entries required, assuming the cost method is used:
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