When treasury stock is bought and sold, the transactions do not result in gains or losses reported

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When treasury stock is bought and sold, the transactions do not result in gains or losses reported on the income statement. What account or accounts are used instead? Why are no income statement amounts recorded?

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Using Financial Accounting Information The Alternative to Debits and Credits

ISBN: 978-1133161646

7th Edition

Authors: Gary A. Porter, Curtis L. Norton

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Question Posted: Jan 12, 2012 02:38 AM

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When treasury stock is bought and sold, the transactions do not result in gains or losses reported

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Gains or losses on treasury stock are not recorded on the income statement Rather the amounts a...View the full answer

Using Financial Accounting Information The Alternative to Debits and Credits

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