On September 1, 2020, Oriole Company reacquired 30400 shares of its $10 par value common stock...
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On September 1, 2020, Oriole Company reacquired 30400 shares of its $10 par value common stock for $15 per share. Oriole uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit O Common Stock for $304000 and Paid-in Capital in Excess of Par for $152000. O Common Stock for $304000. Treasury Stock for $304000. Treasury Stock for $456000. On September 1, 2020, Oriole Company reacquired 30400 shares of its $10 par value common stock for $15 per share. Oriole uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit O Common Stock for $304000 and Paid-in Capital in Excess of Par for $152000. O Common Stock for $304000. Treasury Stock for $304000. Treasury Stock for $456000.
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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