Homework Answers
| Date | Account Titles | Debit | Credit | |
| Mar-16 | Cash | $ 17,500 | =2500*7 | |
| Common Stock | $ 3,750 | =2500*1.5 | ||
| Paid in Capital in excess of Par value | $ 13,750 | =17500-3750 | ||
| Apr-20 | Treasury Stock | $ 11,200 | =700*16 | |
| Cash | $ 11,200 | |||
| Aug-08 | Cash | $ 8,500 | =500*17 | |
| Treasury Stock | $ 8,000 | =500*16 | ||
| Paid in capital from Treasury Stock | $ 500 |
| Stockholder's Equity | |
| Common Stock | $ 3,750 |
| Paid in Capital in excess of Par value | $ 13,750 |
| Paid in capital from Treasury Stock | $ 500 |
| Subtotal | $ 18,000 |
| Less : Treasury Stock | $ 3,200 |
| Total | $ 14,800 |
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