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.