A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,100 shares of its) own stock for $18 per share. Which of the following would be the journal entry for the sale of 15 shares of treasury stock for $10 per share? Assume the Paid-in Capital from Treasury Stock Transactions has a credit balance of $20. O Treasury Stock O B) Common Paid-in Capital from Treasury Stock Transactions Cash 4,050 810 3,240 Cash 3,240 Paid-in Capital from Treasury Stock Transactions 810 Treasury Stock - Common 4,050 O Cash 3,240 Paid-in Capital from Treasury Stock Transactions 300 Retained Earnings 510 Treasury Stock-Common 4,050 3,240 O Cash 810 Retained Earnings Treasury Stock - Common 4,050
A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,100 shares of its) own stock for $18 per share. Which of the following would be the journal entry for the sale of 15 shares of treasury stock for $10 per share? Assume the Paid-in Capital from Treasury Stock Transactions has a credit balance of $20. O Treasury Stock O B) Common Paid-in Capital from Treasury Stock Transactions Cash 4,050 810 3,240 Cash 3,240 Paid-in Capital from Treasury Stock Transactions 810 Treasury Stock - Common 4,050 O Cash 3,240 Paid-in Capital from Treasury Stock Transactions 300 Retained Earnings 510 Treasury Stock-Common 4,050 3,240 O Cash 810 Retained Earnings Treasury Stock - Common 4,050
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,100 shares of its) own stock for $18 per share. Which of
the following would be the journal entry for the sale of 15 shares of treasury stock for $10 per share? Assume the Paid-in Capital from Treasury Stock
Transactions has a credit balance of $20.
O Treasury Stock
O B)
Common
Paid-in Capital from Treasury Stock Transactions
Cash
4,050
810
3,240
Cash
3,240
Paid-in Capital from Treasury Stock Transactions
810
Treasury Stock - Common
4,050
O Cash
3,240
Paid-in Capital from Treasury Stock Transactions
300
Retained Earnings
510
Treasury Stock-Common
4,050
3,240
O Cash
810
Retained Earnings
Treasury Stock - Common
4,050
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