Ellison Company 's balance sheet shows Common stock, $20 par $2,900,000 Paid in capital in excess of par 1,040,000 Retained earnings 700,000 Record the following transactions by the cost method (Credit account titles are automatically indented when the amount is entered Do not indent manually If no...

NoAccount Titles and Explanation a Treasury stock 800027 Cash ...

Ellison Company's balance sheet shows: Common stock, $20 par $2,900,000 Paid-in capital in excess of par 1,040,000

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Question:

Ellison Company's balance sheet shows:

Common stock, $20 par		$2,900,000
Paid-in capital in excess of par		1,040,000
Retained earnings		700,000

Record the following transactions by the cost method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(a)		Bought 8,000 shares of its common stock at $27 a share.
(b)		Sold 4,200 treasury shares at $28 a share.
(c)		Sold 2,100 shares of treasury stock at $24 a share.