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17. please help thank you many, second picture is answer choices. Drop-drown menu question. Part a. Viking Cruise Inc. decides to repurchase its shares as
17. please help thank you many, second picture is answer choices.
Drop-drown menu question. Part a. Viking Cruise Inc. decides to repurchase its shares as treasury stock. The journal entry to account for the treasury stock transaction would be: debit $ X,XXX credit: $ X.XXX Part b. Continue Part a. Suppose treasury stock is sold back to the market at a price higher than original re-purchase cost. Under cost method, the journal entry to account for the treasury stock transaction would be: debit: $ X,XXX credit: $ X,XXX credit: $ X.XXX Part c. Continue Part a. Suppose treasury stock is sold back to the market at a price lower than original re-purchase cost. Under cost method, the journal entry to account for the treasury stock transaction would be: debit: $ X,XXX ] dedit: $ X,XXX credit: $ X.XXX Cash Treasury Stock Loss on Sale of Treasury Stock Gain on Sale of Treasury Stock Retained Earnings Common Shares Additional Paid-In Capital - Treasury Stock Additional Paid-In Capital - Common Stock
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