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11. On February 1, 2017, Ahmed Company acquires 4,000 shares of its stock at a cost SR10 per share. The journal entry for this transaction
11. On February 1, 2017, Ahmed Company acquires 4,000 shares of its stock at a cost SR10 per share. The journal entry for this transaction is 40,000 40,000 40,000 40,000 a) Common Stock Cash b) Treasury Stock Common Stock c) Common Stock Treasury Stock d) Treasury Stock Cash 40,000 40,000 40,000 40,000 12. On July 1, Ahmed Company sells for 15 per share 1,000 shares of its treasury stock previously acquired at 10 per share. The journal entry for this transaction is a) Treasury Stock Paid-in Capital from Treasury Stock Cash 10,000 5,000 15.000 b) Treasury Stock Cash 15,000 15,000 c) Cash 15,000 15.000 Treasury Stock d) Cash 15,000 Treasury Stock Paid-in Capital from Treasury Stock 10,000 5.000
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