23. On February 22, Brett Corporation acquired 260 shares of its $3 par value common stock...
23. On February 22, Brett Corporation acquired 260 shares of its $3 par value common stock for $23 each. On March 15, the company resold 69 shares for $26 each. What is true of the entry for reselling the shares?
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Debit Treasury Stock $1,587
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Credit Treasury Stock $1,794
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Credit Additional Paid–in Capital $207
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Credit Cash $1,587
Homework Answers
When 69 shares are reissued at $26 per share over the part value of $23 per share, the treasury stock account will be credited with $1587 and the additional paid in capital with (69*(26-23) $207.
Option c. is correct answer.
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23. On February 22, Brett Corporation acquired 260 shares of its
$3 par value common stock...
Question 22 3.75 pts On December 2, Coley Corp. acquired 1,000 shares of its $2 par...
Question 22 3.75 pts On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. resold 400 shares for $15 each. Which of the following is correct regarding the journal entry for the resold shares? O Debit Cash $15,000. O Credit Additional Paid in Capital $4,800. o crt: Treasury Stock $10,800. o Credit Additional Paid in Capital $5,200. Credit Treasury Stock $6,000. 3.75 pts Question 23 Question 25...
On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for...
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On December 2, Coley Corp. acquired 1,000 shares of its $2 par value common stock for...
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On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for $25 each. 1000 shar On December 20, Coley Corp. resold 600 shares for $12 each. Which of the following is correct regarding the journal entry for the resold shares? Coley Corp. resa Multiple Choice Credit Treasury Stock $7,200 Credit Additional Paid-in Capital $4,800 O Credit Treasury Stock $15,000
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