Using the Following Accounts

question 112

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold treasury stock at a price below cost when there was no paid-in capital from treasury stock to absorb the difference between cost and selling price.
Debit ________ & ________ Credit ________

• A)Cash
• B)Dividends payable
• C)Preferred stock
• D)Common stock
• E)Common Stock dividend distributable
• F)Paid-in capital in excess of par value-common
• G)Paid-in capital in excess of par value - preferred
• H)Paid-in capital from treasury stock
• I)Retained earnings
• J)Treasury stock
• K)Paid-in capital in excess of par value-Stock dividend

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Definitions:

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