Incorporated resold 450 shares of the treasury stock for $10 per share. What is the journal entry
Fantastic news! We've Found the answer you've been seeking!
Question:
Incorporated resold 450 shares of the treasury stock for $10 per share. What is the journal entry to record the sale of treasury stock on April 5?
a) Dr Treasury Stock 3,600, Dr Paid-in Capital Treasury Stock 900; Cr Cash 4,500
b) Dr Treasury Stock 3,600; Cr Cash 3,600
c) Dr Cash 4,500; Cr Treasury Stock 4,500
d) Dr Cash 4,500; Cr Treasury Stock 3,600; Cr Paid-in Capital Treasury Stock 900
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date: