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This question comes from the Derecognition of shares lesson On January 1 , 2 0 1 0 OurNew Corp. ' s board of directors authorized
This question comes from the Derecognition of shares lesson
On January OurNew Corp.s board of directors authorized shares of $ par value stock for issuance. On that date shares were issued for $ per share. On January
OurNew Corp. reacquired shares for $ per share. The shares were held as treasury shares. On January OurNew Corp. reissued shares out of treasury for $ per share. On
January OurNewCorp retired shares from Treasury.
The January entry will include a
to the Treasury Stock account for
and a credit to PaidInCapital Share Repurchase for $
After the January entry the balance in PaidInCapital Share Repurchase should be $
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