A company reissues 500 shares of treasury stock for $25 per share. The treasury stock was originally repurchased at a cost of $30 per share. Which of the following journal entries would the company record to account for the reissue of the treasury stock? O Cash Retained Earnings O Cash Treasury Stock Treasury Stock $12.500 $2.500 $12,00 $15.000 $12.500
A company reissues 500 shares of treasury stock for $25 per share. The treasury stock was originally repurchased at a cost of $30 per share. Which of the following journal entries would the company record to account for the reissue of the treasury stock? O Cash Retained Earnings O Cash Treasury Stock Treasury Stock $12.500 $2.500 $12,00 $15.000 $12.500
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 6MCQ: Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were...
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