42. Help me selecting the right answer. Thank you 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.Options:1. - Cash: 160 - Treasury Stock — Common: 160 2. - Cash: 160 - Retained Earnings: 30 - Treasury Stock — Common: 190 3. - Cash: 160 - Paid-in Capital from Treasury Stock Transactions: 30 - Treasury Stock — Common: 190 4. - Treasury Stock — Common: 190 - Paid-in Capital from Treasury Stock Transactions: 30 - Cash: 160

Common Stock - A security that symbolizes ownership in a firm is called common stock. Common stock…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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