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please answer clearly The Wayne Company buys back 2000 shares of its own stock in the open market, paying $10 per share. The stock has
please answer clearly
The Wayne Company buys back 2000 shares of its own stock in the open market, paying $10 per share. The stock has a par value of $2 per share. This transaction occurs on June 1, 2023. Using the treasury stock approach, what is the correct journal for the repurchase of the shares? Treasury Stock 4,000 APIC - Common 16,000 Cash 20,000 Treasury Stock 20,000 Common Stock 20,000 Treasury Stock 16,000 APIC - Common 4,000 Cash 20,000 Treasury Stock 20,000 Cash 20,000 On July 1, 2023, Wayne Corporation reissues 100 shares repurchased on June 1 as treasury stock at a price of $15 per share. The correct journal entry for this transaction is: Cash 1,500 Treasury Stock 1,000 APIC - Treasury Stock 500 Cash 1,500 Treasury Stock 1,500 Cash 1,500 Common Stock 1,500 Cash 1,500 Treasury Stock 1,000 APIC-Common Stock 500 Step by Step Solution
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