When treasury stock is purchased for more par value of the stock and the cost method is used to account for treasury than the stock, what account(s) should be debited? * Treasury stock for the par value and paid-in O capital in excess of par for the excess of the purchase price over the par value. Paid-in capital in excess of par for the purchase price. Treasury stock for the purchase price. Treasury stock for the par value and O retained earnings for the excess of the purchase price over the par value.
When treasury stock is purchased for more par value of the stock and the cost method is used to account for treasury than the stock, what account(s) should be debited? * Treasury stock for the par value and paid-in O capital in excess of par for the excess of the purchase price over the par value. Paid-in capital in excess of par for the purchase price. Treasury stock for the purchase price. Treasury stock for the par value and O retained earnings for the excess of the purchase price over the par value.
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 8MC: When treasury stock is purchased for cash at more than its par value, what is the effect on total...
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