Treasury Common Stock ( at cost ) 150,000
The total paid-in capital ( cash collected ) related to the common stock is
13 ) On October 1 , 2014 Macklin Corporation issued 5 %, 10- year bonds with a face value of $ 4,000,000 at 104 . Interest is paid on October 1 and April 1 , with any premiums or discounts amortized on a straight-line basis .
Bond interest expense reported on the December 31 , 2014 income statement of Macklin Corporation would be
14 ) Gannon Company acquired 10,000 shares of its own common stock at $ 20 per share on February 5 , 2014 , and sold 5,000 of these shares at $ 27 per share on August 9 , 2015 . The fair value of Gannon ' s common stock was $ 24 per share at December 31 , 2014 , and $ 25 per share at December 31 , 2015 . The cost method is used to record treasury stock transactions .