Question
Question 25 Not yet answered Marked out of 1.00 Flag question Question text On April 1, 2019, Ruby Corporation reacquired 1,000 shares of its own
Question 25
Not yet answered
Marked out of 1.00
Flag question
Question text
On April 1, 2019, Ruby Corporation reacquired 1,000 shares of its own $30 par stock for a total of $195,000 cash. On October 15, 300 of the treasury shares were reissued at a price of $210 per share. The journal entry to record the reissuance of the 300 shares of stock on October 15 includes a:
Select one:
A. Credit to Gain on Treasury Stock of $4,500
B. Credit to Additional Paid-In Capital: Treasury Stock of $4,500
C. Credit to Treasury Stock of $63,000
D. Credit to Common Stock of $9,000
PreviousSave AnswersNext
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started