30. Help me selecting the right answer. Thank you **Kapper Company Treasury Stock Transaction**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?**Options:**1. **Option 1:** - **Cash**: $3,240 - **Paid-in Capital from Treasury Stock Transactions**: $300 - **Retained Earnings**: $510 - **Treasury Stock - Common**: $4,0502. **Option 2:** - **Cash**: $3,240 - **Paid-in Capital from Treasury Stock Transactions**: $810 - **Treasury Stock - Common**: $4,0503. **Option 3:** - **Cash**: $3,240 - **Retained Earnings**: $810 - **Treasury Stock - Common**: $4,0504. **Option 4:** - **Treasury Stock — Common**: $4,050 - **Paid-in Capital from Treasury Stock Transactions**: $810 - **Cash**: $3,240**Graph/Diagram Explanation:**There are no graphs or diagrams accompanying the text, only multiple-choice options showing potential journal entries for the described transaction.

The cash amount will be the amount received from the sale of shares. Treasury shares are the…

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

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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