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6. In 2012, Hobbs Corp, acquired 9,000 shares of its own $1 par value common stock at $18 per share. In 2015, Hobbs issued 6,000
6. In 2012, Hobbs Corp, acquired 9,000 shares of its own $1 par value common stock at $18 per share. In 2015, Hobbs issued 6,000 of these shares at $25 per share. Under the cost method, what accounts and what amounts should Hobbs credit in 2015 to record the issuance of the 6,000 shares?
Treasury Stock | Additional paid in capital | Retained Earnings | Common Stock | |
a | $108,000 | $42,000 | ||
b | $108,000 | $42,000 | ||
c | $144,000 | $6,000 | ||
d | $102,000 | $42,000 | $6,000
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