Fitness Factory New York sells home equipment. On May 1st, 2019, the Company reacquired 23,000 shares of its Common Stock at $50 / share. On September 1st, 2019, the Company sold 15,000 of the reacquired shares at $60 / share. The remaining 8,000 shares were sold at $45 / share on November 1st, 2019. What is the balance in Treasury Stock that the Company will record on the December 31st balance sheet? Make sure to include if the amount is a Debit or a Credit balance. What is the balance in the Additional Paid in Capital…Treasury Stock the Company will record on the December 31st balance sheet? Make sure to include if the amount is a Debit or Credit balance.
Fitness Factory New York sells home equipment. On May 1st, 2019, the Company reacquired 23,000 shares of its Common Stock at $50 / share. On September 1st, 2019, the Company sold 15,000 of the reacquired shares at $60 / share. The remaining 8,000 shares were sold at $45 / share on November 1st, 2019. What is the balance in Treasury Stock that the Company will record on the December 31st balance sheet? Make sure to include if the amount is a Debit or a Credit balance. What is the balance in the Additional Paid in Capital…Treasury Stock the Company will record on the December 31st balance sheet? Make sure to include if the amount is a Debit or Credit balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Fitness Factory New York sells home equipment. On May 1st, 2019, the Company reacquired 23,000 shares of its Common Stock at $50 / share. On September 1st, 2019, the Company sold 15,000 of the reacquired shares at $60 / share. The remaining 8,000 shares were sold at $45 / share on November 1st, 2019.
What is the balance in
What is the balance in the Additional Paid in Capital…Treasury Stock the Company will record on the December 31st balance sheet? Make sure to include if the amount is a Debit or Credit balance.
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