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galben [10]
4 years ago
7

On March 1st, Nichols Corporation purchased 1,000 shares of previously issued common stock, paying $3 per share. On April 1st, N

ichols sold 600 shares at $4 per share. What is the amount of Paid-In Capital from Treasury Stock Transactions for the sale of 600 shares?
Mathematics
1 answer:
Scilla [17]4 years ago
4 0

Answer:

The Paid-In Capital from Treasury Stock Transactions for the sale of 600 shares is $600.

Step-by-step explanation:

Total number of shares = 1000.

Sales price is600\times4=2400 dollars

When treasury stocks are sold, cash is debited for the sales price.

And simultaneously, the treasury stock is credited for the purchase price of the stock = 600\times3=1800 dollars

Paid-In Capital from Treasury Stock Transactions = 2400-1800=600 dollars (difference between sale and purchase price)

So, the amount of Paid-In Capital from Treasury Stock Transactions for the sale of 600 shares is $600.

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