Question 8

Groundcover, Inc. had never had a treasury stock transaction prior to 2020. It experienced the following treasury stock transactions during 2020: 4/1/202 Reacquired 1,000 shares of its own $5 par common stock, originally 0: sold at $12 share, for $10 a share. This was the first time that Groundcover had reacquired its own stock. 4/8/202 0: 5/2/202 0: Reissued 400 shares at $8 a share. Reissued 500 shares at $13 a share. 5/10/20 20: Assume the Retired the remaining 100 shares. method is used. Refer to Exhibit 15-9. The entry to record the reissuance of 400 shares on 4/8/2020 would include a a. credit to Treasury Stock for $3,200. b. credit to Additional Paid-in Capital on Common Stock for $800. OC. debit to Retained Earnings for $800. O d. debit to Additional Paid-in Capital from Treasury Stock for $800.

Groundcover, loc. had never had a treasury stock transaction prior to 2020 . It experienced the following treasury stock transactions during 2020 : 4/1/202 Reacquired 1,000 shares of its own 55 par common stock, originally D. sold at $12 a share, for $10 a share. This was the first time that Groundcover had reacquired its own stock. 4/8202 Reissued 400 shares at $8 a share. 0 52/202 Reisued 500 shares at 513 a share 0. S10R20 Retired the rranating 100 shares: 20. Assume the cost method is used. Refer to Eaxhibit-15-9. The eatry to rececd the reisuance of to0 shares on 482020 would include a a. credit to Treasury Stock for $3,200. b.credit to Additional Paid-in Coplat on Cammon Stock for 5800. c. detait to Retained Earnings for $800 a. debit to Additional Paid-in Capital from Treasury Stock for $400