Question: APTERS 13 & 14 Saves Help Save & Exit Prior to June 30, a company has never had any treasury stock transactions. A company repurchased

 APTERS 13 & 14 Saves Help Save & Exit Prior to

APTERS 13 & 14 Saves Help Save & Exit Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its S1 par common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share on August 1, it reissued 20 of the shares of $38 per share. What is the Journal entry necessary to record the reissuance of treasury stock on July 207 Multiple Choice Debit Cash $2,300. credit Treasury Stock $2,300 Debit Common Stock $2.300: credit Treasury Stock $2.000, credit Pald in Capital, Treasury Stock $300 Debit Cash $2,300, credit Polin Capital, Treasury Stock $300, credit Treasury Stock $2,000, Debit Common Stock $2.300; Credit Cash $2,300

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!