XYZ Ltd. sells 100 of its 5 par value treasury shares at 13 per share. If the

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XYZ Ltd. sells 100 of its £5 par value treasury shares 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 Shares 1,000 and Share Premium—Treasury 300.

b. Treasury Shares 500 and Share Premium—Treasury 800.

c. Treasury Shares 1,000 and Retained Earnings 300.

d. Treasury Shares 500 and Gain from Sale of Treasury Shares 800.

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Financial Accounting With International Financial Reporting Standards

ISBN: 9781119787051

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 05, 2024 01:40 AM

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XYZ Ltd. sells 100 of its 5 par value treasury shares at 13 per share. If the

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Financial Accounting With International Financial Reporting Standards

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