"XYZ, Inc. has 1000 shares treasury stock, sells 100 shares of JD 1 par value treasury stock at JD 8 per share. If the cost of acquiring the treasury stock was JD 4 per share, the entry for the sale should include credits to" Treasury Stock JD 100 and additional Paid-in Capital -Treasury Stock premium JD 400 Share Capital JD 400 and Retained Earnings JD 400 Share Capital JD 100 and Treasury Stock JD 300 and additional Paid-in Capital -Treasury Stock premium JD 400. Treasury Stock JD 400 and additional Paid-in Capital -Treasury Stock premium JD 400
"XYZ, Inc. has 1000 shares treasury stock, sells 100 shares of JD 1 par value treasury stock at JD 8 per share. If the cost of acquiring the treasury stock was JD 4 per share, the entry for the sale should include credits to" Treasury Stock JD 100 and additional Paid-in Capital -Treasury Stock premium JD 400 Share Capital JD 400 and Retained Earnings JD 400 Share Capital JD 100 and Treasury Stock JD 300 and additional Paid-in Capital -Treasury Stock premium JD 400. Treasury Stock JD 400 and additional Paid-in Capital -Treasury Stock premium JD 400
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 5MC
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