Question
This question comes from the 5th set of Nearpods for chapter 18 On January 1, 2010 OurNew Corp.s board of directors authorized 100,000 shares of
This question comes from the 5th set of Nearpods for chapter 18
On January 1, 2010 OurNew Corp.s board of directors authorized 100,000 shares of $1 par value stock for issuance. On that date 70,000 shares were issued for $20 per share. On January 2, 2018, OurNew Corp. reacquired 20,000 shares for $15 per share. The shares were held as treasury shares. On January 2, 2020, OurNew Corp. reissued 8,000 shares out of treasury for $25 per share. On January 5, 2020 OurNewCorp retired 2,000 shares from Treasury.
The January 2, 2020 entry will include a [ Select ] ["credit", "debit", "", ""] to the Treasury Stock account for $ [ Select ] ["120000", "200000", "8000"] and a credit to Paid-In-Capital Share Repurchase for $ [ Select ] ["80000", "152000", "200000"] .
After the January 5, 2020 entry the balance in Paid-In-Capital Share Repurchase should be $ [ Select ] ["90000", "70000", "10000"] .
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