The entry to record the reacquisition of common shares at a cost lower than the average issue cost requires a
A) credit to Contributed Surplus.
B) credit to Contributed Surplus-Reacquisition of Common Shares.
C) credit to Common Shares.
D) credit to Retained Earnings.

Question

Quizplus · Accepted Answer

The Answer of The entry to record the reacquisition of common shares at a cost lower than the average issue cost requires a
A) credit to Contributed Surplus.
B) credit to Contributed Surplus-Reacquisition of Common Shares.
C) credit to Common Shares.
D) credit to Retained Earnings.

The Entry to Record the Reacquisition of Common Shares at a Cost