A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following:
a. Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares. If an amount box does not require an entry, leave it blank.
b. Sold 500 shares of treasury stock at $15. If an amount box does not require an entry, leave it blank.
c. Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. If an amount box does not require an entry, leave it blank.
d. Sold 500 shares of treasury stock at $11. If an amount box does not require an entry, leave it blank.
