EX$\mathrm{.}13\mathrm{.}20$

TMM$\mathrm{.}13\mathrm{.}06$

TMM$\mathrm{.}13\mathrm{.}07$

TMM$\mathrm{.}13\mathrm{.}03$

TMM$\mathrm{.}13\mathrm{.}02$

TMM$\mathrm{.}13\mathrm{.}04$

Progress:$10/14$ items

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Question Content Area

Click to watch the Tell Me More Learning Objective $6$ video and then answer the questions below.

$1.$ On February $10,$ the corporation purchases back $2,000$ shares of its own common stock for $$50$ per share. The entry to record the purchase would include a $\_\_\_\_\_.$

debit to Cash for $$100,000$

credit to Treasury Stock for $$100,000$

debit to Treasury Stock for $$100,000$

debit to Common Stock for $$100,000$

$2.$ A corporation may reacquire its own stock for which of the following reasons?

To provide shares for resale to employees.

To reissue as bonuses to employees.

To support the market price of the stock.

All of these are correct.