[realestatewhiz]

Hey guys (&gals),

I appreciate your help looking at understanding the following:

Under cost method,

1.) If company sells 100 sh ($1par) @ $5/sh:

Dr- cash $500

Cr- stock $100

2.) Co reacquires 50 sh @ $10/sh

Dr- treasury stock $500

Cr- cash $500

3.) Co sells all of 50 reacquired (#2) @ $5p/sh

DR- cash $250

DR- APIC treasury stock $250

Cr- treasury stock $500

does this sound right??

I appreciate the help..it’s saving me from a meltdown right now!