A Corporation Originally Issued $5 Par Value Stock for $6

question 142

Multiple Choice

A corporation originally issued $5 par value stock for $6 per share. Which of the following would be included in the entry to record the purchase of 200 shares of treasury stock for $8 per share?

• A) Treasury stock would be debited for $1,600.
• B) Treasury stock would be credited for $1,600.
• C) Retained earnings would be debited for $1,000.
• D) Treasury stock would be debited for $1,000.

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