Multiple Choice
A company purchases 300 shares of its $50 par value common stock at $55 per share.It then reissues 50 shares at $57 per share.The entry upon reissue of the stock would be:
A) Cash 2,850
Treasury Stock-Common 2,750
Paid-in Capital,Treasury Stock 100
B) Cash 2,850
Treasury Stock-Common 2,750
Gain on Sale of Treasury Stock 100
C) Cash 2,850
Treasury Stock-Common 2,500
Retained Earnings 350
D) Cash 2,850
Treasury Stock-Common 2,850
Correct Answer:
Verified
Correct Answer:
Verified
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