Treasury stock that had been purchased for $4,550 last month was reissued this month for $5,042. What would the journal entry to record the reissuance include? Select the correct answer. a-Debit to Treasury Stock for $4,550 b-Credit to Excess of Par/Common for $492 c-Credit to Treasury Stock for $4,550 d-Credit to Treasury Stock for $492
Treasury stock that had been purchased for $4,550 last month was reissued this month for $5,042. What would the journal entry to record the reissuance include? Select the correct answer. a-Debit to Treasury Stock for $4,550 b-Credit to Excess of Par/Common for $492 c-Credit to Treasury Stock for $4,550 d-Credit to Treasury Stock for $492
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...
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Select the correct answer.
a-Debit to Treasury Stock for $4,550
b-Credit to Excess of Par/Common for $492
c-Credit to Treasury Stock for $4,550
d-Credit to Treasury Stock for $492
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