XYZ, Inc. sells 100 shares of $5 par value treasury stock at $13 per share. If the
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XYZ, Inc. sells 100 shares of $5 par value treasury stock at $13 per share. If the cost of acquiring the shares was $10 per share, the entry for the sale should include credits to:
(a) Treasury Stock $1,000 and Paid-in Capital from Treasury Stock $300.
(b) Treasury Stock $500 and Paid-in Capital from Treasury Stock $800.
(c) Treasury Stock $1,000 and Retained Earnings $300.
(d) Treasury Stock $500 and Paid-in Capital in Excess of Par $800.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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