A corporation originally issued $9 par value common stock for $14 per share.It purchased the stock for $15 per share.Which of the following is included in the entry to record the sale of 60 shares of treasury stock for $19 per share?
A) Paid-In Capital From Treasury Stock Transactions is credited for $1,140.
B) Treasury Stock-Common is credited for $900.
C) Treasury Stock-Common is credited for $1,140.
D) Paid-In Capital From Treasury Stock Transactions is debited for $240.
Correct Answer:
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Q67: Assume the following information for Petra Sales,Inc.:
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Q68: Ross Corporation reported the following: Q69: Peterson,Inc.issued 4,000 shares of preferred stock for Q73: Rimsone,Inc.purchases 8,500 shares of the company's own Q74: The account Paid-In Capital from Treasury Stock Q82: Treasury stock is a contra equity account. Q93: Treasury stock _. Q95: The journal entry for the purchase of Q109: If treasury stock is resold for more Q119: If treasury shares are sold for less
A) decreases the number of
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