The 124Ba nucleus is investigated on the basis of the method of statistical mechanics by assuming the nucleons to move in triaxially deformed Nilsson potential. The variation in the Fermi energies of protons and neutrons is studied as a function of spin and temperature. The Fermi energies determined as a function of angular momentum is used to study the dependence of shell correction on angular momentum using the Strutinsky smoothing procedure. The most important observation is that the shell correction is almost the same for all spins for 124Ba. The spin cutoff parameter and the single particle level density parameter are studied as a function of spin and temperature. Constant entropy lines drawn by plotting the excitation energy against angular momentum are found to be roughly at constant energy above the yrast line and are almost equally spaced. It is observed that no yrast traps are present for 124Ba.