A company repurchased 10,000 of its outstanding5ordinary shares with par value 2$ for 6$ in /2024, at0131/2024 the company re-issued 5000 for 7.5, and in0128/02/2024 issued 4000 for 2.5 which recorded in thecompany books fordebit retained earning for $6500.Adebit treasury shares for 10,000 .Bcredit treasury premium for 7500 .Cdebit premium treasury for 6500 .D

To get the answer, lets journalize first the transactions made:DateAccount TitlesDebitCreditJan. 5,…

Answered: A company repurchased 10,000 of its…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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