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 Cash Treasury Stock Treasury Stock Cash Additional Paid in Capital Treasury Stock Cash Loss on re-issue Treasury Stock None of the above. $12,500 $2,500 $12,500 $12,500 $2,500 $12,500 $2,500 $15,000 $12,500 $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 Cash Treasury Stock Treasury Stock Cash Additional Paid in Capital Treasury Stock Cash Loss on re-issue Treasury Stock None of the above. $12,500 $2,500 $12,500 $12,500 $2,500 $12,500 $2,500 $15,000 $12,500 $15,000 $15,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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