A Corporation Originally Issued $8 Par Value Common Stock for $9

question 148

Multiple Choice

A corporation originally issued $8 par value common stock for $9 per share. It purchased the stock for $10 per share for the treasury. Which of the following would be included in the entry to record the reissue of 20 shares of treasury stock for $11 per share?

• A)Paid-In Capital from Treasury Stock Transactions is credited for $220.
• B)Treasury Stock-Common is credited for $200.
• C)Treasury Stock-Common is credited for $220.
• D)Paid-In Capital from Treasury Stock Transactions is debited for $20.

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