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A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,000 share Which of the following would be the journal entry for the sale of 10 shares of treasury stock for $16 per from Treasury Stock Transactions has a credit balance of $300. Cash Treasury Stock - Common Cash Retained Earnings Treasury Stock - Common Cash Paid-in Capital from Treasury Stock Transactions Treasury Stock - Common Treasury Stock -Common 160 160 30 160 30 190 160 190 190

A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,000 share Which of the following would be the journal entry for the sale of 10 shares of treasury stock for $16 per from Treasury Stock Transactions has a credit balance of $300. Cash Treasury Stock - Common Cash Retained Earnings Treasury Stock - Common Cash Paid-in Capital from Treasury Stock Transactions Treasury Stock - Common Treasury Stock -Common 160 160 30 160 30 190 160 190 190

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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A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,000 shares of its own stock for $19 per share. Which of the following would be the journal entry for the sale of 10 shares of treasury stock for $16 per share? Assume the Paid-in Capital from Treasury Stock Transactions has a credit balance of $300. Cash Treasury Stock Common O Cash Retained Earnings Treasury Stock - Common Cash Paid-in Capital from Treasury Stock Transactions Treasury Stock - Common Treasury Stock Common Paid-in Capital from Treasury Stock Transactions Cash 160 160 30 160 30 190 160 190 190 30 160
Transcribed Image Text:A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,000 shares of its own stock for $19 per share. Which of the following would be the journal entry for the sale of 10 shares of treasury stock for $16 per share? Assume the Paid-in Capital from Treasury Stock Transactions has a credit balance of $300. Cash Treasury Stock Common O Cash Retained Earnings Treasury Stock - Common Cash Paid-in Capital from Treasury Stock Transactions Treasury Stock - Common Treasury Stock Common Paid-in Capital from Treasury Stock Transactions Cash 160 160 30 160 30 190 160 190 190 30 160
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