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
Related questions
Question
Please help me with show all calculation thanku
![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
Cash
Treasury Stock
Cash
Treasury Stock
Additional Paid in Capital
Treasury Stock
Loss on re-issue
Treasury Stock
O 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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F649593ab-9161-4d6b-9fb8-86ec88815ee7%2Ff8887c54-5d69-49d2-9e6b-75ef34684c56%2Fuyppm54o_processed.png&w=3840&q=75)
Transcribed Image Text: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
Cash
Treasury Stock
Cash
Treasury Stock
Additional Paid in Capital
Treasury Stock
Loss on re-issue
Treasury Stock
O 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
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education