Question
In 2014, Boeing repurchased 50,000 common stock shares at $40 per share. In August 2015, they decided to resell all 50,000 shares. The current
In 2014, Boeing repurchased 50,000 common stock shares at $40 per share. In August 2015, they decided to resell all 50,000 shares. The current market value for the common stock shares in August 2015 was $45 per share. The resale of shares in August 2015 results in the following partial journal entry: Credit Paid-in Capital from Treasury Stock $2,250,000 Credit Paid-in Capital from Treasury Stock $250,000 O Credit retained earnings $250,000 Credit retained earnings $2,250,000 Debit Paid-in Capital from Treasury Stock $2,250,000
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