Question
In 2021, a company reacquired 4,000 shares of its common stock as treasury shares at $65 per share. In 2022, the company sold 1,000 shares
In 2021, a company reacquired 4,000 shares of its common stock as treasury shares at $65 per share. In 2022, the company sold 1,000 shares of the treasury stock at $85 per share. Which of the following would be included in the 2022 entry?
Group of answer choices
Debit Treasury Stock for $85,000
Credit Treasury Stock for $65,000
Debit APIC-TS for $20,000
Credit Cash for $85,000
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Introduction To Managerial Accounting
Authors: Jeannie Folk, Ray Garrison, Eric Noree
1st Edition
0072468440, 978-0072468441
