Kapper Company purchased 2,500 shares of its own $10 par common stock for $15 per share. Two months later, Kapper sold 270 shares of treasury stock for $12 per share. What would be the journal entry for the sale of the treasury stock assuming the Paid-in Capital from Treasury Stock Transactions has a credit balance of $300? O Cash Paid-in Capital from Treasury Stock Transactions Retained Earnings Treasury Stock - Common Cash Paid-in Capital from Treasury Stock Transactions Treasury Stock - Common O Cash Retained Earnings Treasury Stock - Common O Treasury Stock - Common Paid-in Capital from Treasury Stock Transactions Cash 3,240 300 510 3,240 810 3,240 810 4,050 4,050 4,050 4,050 810 3,240
Kapper Company purchased 2,500 shares of its own $10 par common stock for $15 per share. Two months later, Kapper sold 270 shares of treasury stock for $12 per share. What would be the journal entry for the sale of the treasury stock assuming the Paid-in Capital from Treasury Stock Transactions has a credit balance of $300? O Cash Paid-in Capital from Treasury Stock Transactions Retained Earnings Treasury Stock - Common Cash Paid-in Capital from Treasury Stock Transactions Treasury Stock - Common O Cash Retained Earnings Treasury Stock - Common O Treasury Stock - Common Paid-in Capital from Treasury Stock Transactions Cash 3,240 300 510 3,240 810 3,240 810 4,050 4,050 4,050 4,050 810 3,240
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16P: Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018,...
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![Kapper Company purchased 2,500 shares of its own $10 par common stock for $15 per share. Two months later, Kapper sold 270 shares of
treasury stock for $12 per share. What would be the journal entry for the sale of the treasury stock assuming the Paid-in Capital from
Treasury Stock Transactions has a credit balance of $300?
Cash
Paid-in Capital from Treasury Stock Transactions
Retained Earnings
Treasury Stock - Common
Cash
Paid-in Capital from Treasury Stock Transactions
Treasury Stock - Common
Cash
Retained Earnings
Treasury Stock - Common
Treasury Stock - Common
Paid-in Capital from Treasury Stock Transactions
Cash
3,240
300
510
3,240
810
3,240
810
4,050
4,050
4,050
4,050
810
3,240](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7bb218a-7225-42a3-a3f0-3975cc4ca4df%2F57473b30-b694-493f-b51d-c06e4374e97a%2Fnalsvx_processed.png&w=3840&q=75)
Transcribed Image Text:Kapper Company purchased 2,500 shares of its own $10 par common stock for $15 per share. Two months later, Kapper sold 270 shares of
treasury stock for $12 per share. What would be the journal entry for the sale of the treasury stock assuming the Paid-in Capital from
Treasury Stock Transactions has a credit balance of $300?
Cash
Paid-in Capital from Treasury Stock Transactions
Retained Earnings
Treasury Stock - Common
Cash
Paid-in Capital from Treasury Stock Transactions
Treasury Stock - Common
Cash
Retained Earnings
Treasury Stock - Common
Treasury Stock - Common
Paid-in Capital from Treasury Stock Transactions
Cash
3,240
300
510
3,240
810
3,240
810
4,050
4,050
4,050
4,050
810
3,240
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