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Which of the following is TRUE regarding the accounting for treasury stock? Multiple Choice All of the other answer choices are correct. Treasury stock represents
Which of the following is TRUE regarding the accounting for treasury stock? Multiple Choice All of the other answer choices are correct. Treasury stock represents a negative equity account The purchase and sale of treasury stock has no Impact on the Income statement. O Treasury stock is reported on the balance sheet in the equity section. A company had the following transactions related to its stock: February 22 acquired 210 shares of its $3 par value common stock for $26 each. March 15 resold 68 shares for $29 each. What is true of the March 15 entry for reselling the shares? Multiple Cholce Credit Cash $1.768 Debit Treasury Stock $1,768 Credit Treasury Stock $1,972 Credit Additional Pald-in Capital $204
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