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melee8P11-2A
Greeve Corporation had the following stockholders' equity accounts on January 1, 2011: Common Stock ($1 par) $400,000, Paid-in Capital in Excess of Par Value $500,000, and Retained Earnings $100,000. In 2011, the company had the following treasury stock transactions.
Greeve Corporation uses the cost method of accounting for treasury stock. In 2011, the company reported net income of $60,000.
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