Question
1.In March, Justin Company acquired 2,000 shares of treasury stock for $18 per share. In April, it reissues 400 shares at $20 per share. The
1.In March, Justin Company acquired 2,000 shares of treasury stock for $18 per share. In April, it reissues 400 shares at $20 per share. The entry to record the reissue would include which of the following?
a.a credit to Paid-in Capital From Treasury Stock of $800
b.a gain of $800
c.a credit to Treasury Stock of $8,000
d.a credit to Retained Earnings of $800
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Advanced Financial Accounting
Authors: Richard Baker, Theodore Christensen, David Cottrell
9th edition
78110920, 978-0077899165, 77899164, 978-0077484255, 77484258, 978-0078110924
