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Boston Company purchased 10,000 shares of own its no par value common stock for $7 per share on January 1. On April 1, 2013, they
Boston Company purchased 10,000 shares of own its no par value common stock for $7 per share on January 1. On April 1, 2013, they reissued 5,000 of these shares for $9 a share. The journal entry on April 1, will include a: Debit to Retained Earnings for $10,000 Credit to Treasury Stock for $35,000 Debit to Paid-in-Capital, Treasury Stock for $4,000 Debit to Retained Earnings for $45,000
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