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On April 16, 2010, Rodriguez Corporation reacquired 12,000 shares of its own $10 par stock for $660,000 cash. On November 4, 2011, 1,000 of the
On April 16, 2010, Rodriguez Corporation reacquired 12,000 shares of its own $10 par stock for $660,000 cash. On November 4, 2011, 1,000 of the treasury shares were reissued at a price of $65 per share. The journal entry to record the reissuance of the 1,000 shares of stock on Nov. 4 includes a: a) Credit to additional Paid In Capital: Treasury Stock Transactions of $10,000. b) Credit to Treasury Stock reissued of $65,000 c) Credit to Gain on Treasury Stock transactions of $10,000. d) Credit to Common Stock of $10,000
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