Oriole Corporation sold 430 shares of treasury stock for $45 per share. The cost for the shares

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Oriole Corporation sold 430 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record the sale will include a

A) Credit to Gain on Sale of Treasury Stock for $14,000.

B) Credit to Paid-in Capital from Treasury Stock for $4,000.

C) Debit to Paid-in Capital in Excess of Par for $4,000.

D) Credit to Treasury Stock for $18,000.

Related Book For answer-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

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Posted Date: Jan 21, 2022 02:05 AM

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Oriole Corporation sold 430 shares of treasury stock for $45 per share. The cost for the shares

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Expert Answer:

B Credit to Paidin Capital from Treasury Stock for 4000 Treasury stock is f... View the full answer

Cornerstones of Financial and Managerial Accounting

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