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Alix Corporation purchased 500 shares of its own $2 par value common stock at $24 cash per share and made the appropriate entry to record
Alix Corporation purchased 500 shares of its own $2 par value common stock at $24 cash per share and made the appropriate entry to record this transaction. This stock is now held in its treasury. When Alix reissues 200 of these shares for $30 cash per share, it will make the following entry: Cash 6,000 Treasury Stock Additional Paid-in Capital, Treasury Stock 400 5,600 Cash 6,000 Treasury Stock Additional Paid-in Capital, Treasury Stock 4,800 1,200 OCash 6,000 Treasury Stock 6,000 O Cash 6,000 Common Stock Additional Paid-in Capital, Common Stock 400 5,600
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