QUESTION 35 A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,100 shares of its) own stock for $18 per share. Which of the following would be the journal entry for the sale of 15 shares of treasury stock for $10 per share? Assume the Paid-in Capital from Treasury Stock Transactions has a credit balance of $20. Treasury Stock Common Paid-in Capital from Treasury Stock Transactions Cash B) 4,050 810 3,240 Cash 3,240 Paid-in Capital from Treasury Stock Transactions 810 Treasury Stock - Common 4,050 Cash 3,240 Paid-in Capital from Treasury Stock Transactions 300 Retained Earnings 510 Treasury Stock - Common 4,050 Cash 3,240 Retained Earnings 810 Treasury Stock - Common 4,050
QUESTION 35 A corporation originally issued $10 par value common stock for $13 per share. It purchased 2,100 shares of its) own stock for $18 per share. Which of the following would be the journal entry for the sale of 15 shares of treasury stock for $10 per share? Assume the Paid-in Capital from Treasury Stock Transactions has a credit balance of $20. Treasury Stock Common Paid-in Capital from Treasury Stock Transactions Cash B) 4,050 810 3,240 Cash 3,240 Paid-in Capital from Treasury Stock Transactions 810 Treasury Stock - Common 4,050 Cash 3,240 Paid-in Capital from Treasury Stock Transactions 300 Retained Earnings 510 Treasury Stock - Common 4,050 Cash 3,240 Retained Earnings 810 Treasury Stock - Common 4,050
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 12MC: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting...
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