Answered: A company reissues 500 shares of… | bartleby

FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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O Cash
Additional Paid in Capital
O Cash
Treasury Stock
Loss on re-issue
Treasury Stock
O None of the above.
$12.500
$2.500
$12.500
$2,500
$15.000
$15,000

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?
Cash
Retained Earnings
O Cash
Treasury Stock
O Cash
Treasury Stock
Additional Paid in Capital
Treasury Stock
$12.500
$2.500
$12,00
$12.500
$2.500
$15,000
$12.500
$15,000

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