Question
Bevins Company issued 10,000 shares of $20 par value common stock at $24 per share. Bevins reacquired 1,000 shares of its own stock at a
Bevins Company issued 10,000 shares of $20 par value common stock at $24 per share. Bevins reacquired 1,000 shares of its own stock at a cost of $30 per share. The entry to record the reacquisition is:
| Premium on Treasury Stock (-SE) 10,000 Treasury stock (-SE) 20,000 Cash (-A) 30,000. |
| Premium on Treasury Stock (-SE) 6,000 Treasury stock (-SE) 24,000 Cash (-A) 30,000. |
| Treasury Stock (-SE) 30,000 Cash (-A) 30,000. |
| Treasury stock (-SE) 20,000 Paid-In Capital Treasury Stock Transactions (-SE) 10,000 Cash (-A) 30,000. |
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Fundamental Managerial Accounting Concepts
Authors: Thomas P Edmonds, Philip R Olds
9th Edition
1259969509, 9781259969508
