Question
50. On December 2, Coley Corp. acquired 900 shares of its $3 par value common stock for $21 each. On December 20, Coley Corp. resold
50.
On December 2, Coley Corp. acquired 900 shares of its $3 par value common stock for $21 each. On December 20, Coley Corp. resold 500 shares for $15 each. Which of the following is correct regarding the journal entry for the resold shares?
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Debit Cash $13,500
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Credit Treasury Stock $10,500
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Credit Additional Paidin Capital $6,000
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Credit Treasury Stock $7,500
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Blockchain Technology In Accounting And Auditing
Authors: Prof Oleksandr Melnychenko
1st Edition
1976900328, 978-1976900327
