To Record the Purchase of Treasury Stock

question 117

Multiple Choice

To record the purchase of treasury stock:

• A) debit Treasury Stock-Common (par value); credit Cash (same).
• B) debit Treasury Stock-Common (purchase price); credit Cash (same).
• C) debit Treasury Stock-Common (par value); debit any difference to Paid-in Capital; credit Cash (purchase price).
• D) None of these answers is correct.

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