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33 NEED HELP ASAP Salon Company originally issued 3,000 shares of $10 par value common stock for $90,000 ($30 per share). Salon subsequently purchases 300
33 NEED HELP ASAP
Salon Company originally issued 3,000 shares of $10 par value common stock for $90,000 ($30 per share). Salon subsequently purchases 300 shares of treasury stock for $27 per share and resells the 300 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a
debit to Paid-In Capital in Excess of Par of $9,000. | ||
credit to Paid-In Capital from Treasury Stock for $600. | ||
credit to Common Stock for $8,100. | ||
credit to Treasury Stock for $3,000. |
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