WW Corp. resells 500 shares of its own common stock for $22 per share. WW had acquired these shares two months before for $25 per share. The resale of this stock would be recorded with a: Select one: a. Debit to Cash for $12,500 b. Credit to Additional Paid-In Capital for $1,500 c. Debit to Common Stock for $12,500 d. Debit to Additional Paid-In Capital for $1,800 e. Credit to Treasury Stock for $12,500
WW Corp. resells 500 shares of its own common stock for $22 per share. WW had acquired these shares two months before for $25 per share. The resale of this stock would be recorded with a: Select one: a. Debit to Cash for $12,500 b. Credit to Additional Paid-In Capital for $1,500 c. Debit to Common Stock for $12,500 d. Debit to Additional Paid-In Capital for $1,800 e. Credit to Treasury Stock for $12,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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WW Corp. resells 500 shares of its own common stock for $22 per share. WW had acquired these shares two months before for $25 per share.
The resale of this stock would be recorded with a:
Select one:
a. Debit to Cash for $12,500
b. Credit to Additional Paid-In Capital for $1,500
c. Debit to Common Stock for $12,500
d. Debit to Additional Paid-In Capital for $1,800
e. Credit to Treasury Stock for $12,500
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