Question
On September 1, 2015, Valdez Company reacquired 12,000 shares of its $10 par value ordinary shares for $15 per share. Valdez uses the cost method
On September 1, 2015, Valdez Company reacquired 12,000 shares of its $10 par value ordinary shares for $15 per share. Valdez uses the cost method to account for treasury shares. The journal entry to record the reacquisition of the shares should debit
Treasury Shares for $180,000.
Share CapitalOrdinary for $120,000 and Share PremiumOrdinary for $60,000.
Treasury Shares for $120,000.
Share CapitalOrdinary for $120,000
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Integrated Accounting For Windows
Authors: Dale A. Klooster, Warren Allen
6th Edition
0324664850, 9780324664850
