Quill Corporation paid $28 per share to purchase 900 shares of its common stock as treasury stock.

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Quill Corporation paid $28 per share to purchase 900 shares of its common stock as treasury stock. The stock was originally issued at $12 per share. Which of the following would be the journal entry that Quill would make to record the purchase of the treasury stock?

A1 A. Treasury Stock Cash 25,200 a. 25,200 2 3 b. Treasury Stock Retained Earnings Cash 10,800 14,400 25,200 6. Common S

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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