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Carla Vista Enterprises buys back 313,000 shares of its stock from investors at $13.00 a share. Two years later, it reissues this stock for $12.5
Carla Vista Enterprises buys back 313,000 shares of its stock from investors at $13.00 a share. Two years later, it reissues this stock for $12.5 a share. The journal entry to record the stock reissuance would debit Cash for: Multiple Choice O $3,912,500, a debit to Additional Paid-in Capital for $156,500, and a credit to Treasury Stock for $4,069,000. $4,069,000 and a credit to Treasury Stock for $4,069,000. $3,912,500, a credit to Treasury Stock for $3,912,500, and a credit to Additional Paid-in Capital for $156,500. $3,912,500 and a credit to Treasury Stock for $3,912,500.
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