On April 16, 2010, Rodriguez Corporation reacquired 12,000 shares of its own $10

Question

On April 16, 2010, Rodriguez Corporation reacquired 12,000 shares of its own $10 par stock for $660,000 cash. On November 4, 2011, 1,000 of the treasury shares were reissued at a price of $65 per share. The journal entry to record the reissuance of the 1,000 shares of stock on Nov. 4 includes a: a) Credit to additional Paid In Capital: Treasury Stock Transactions of $10,000. b) Credit to Treasury Stock reissued of $65,000 c) Credit to Gain on Treasury Stock transactions of $10,000. d) Credit to Common Stock of $10,000

Explanation / Answer

a) Credit to additional Paid In Capital: Treasury Stock Transactions of $10,000.

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.