Balance in the paid-in capital from treasury stock


Problem:

Please help with the following problem.

Davidson Co. was organized on January 2, 2007, with 500,000 authorized shares of $10 par value common stock. During 2007, Davidson had the following capital transactions:

January 5 - issued 375,000 shares at $14 per share.
July 27 - purchased 25,000 shares at $11 pr share.
November 25 - sold 15,000 share of treasury stock at $13 per share.

Davidson used the cost method to record the purchase of the treasury shares. What would be the balance in the Paid-in Capital from Treasury Stock account at December 31, 2007?

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Finance Basics: Balance in the paid-in capital from treasury stock
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