A Company Purchases 400 Shares of Its $50 Par Value $\begin{array}{l}\text { Cash }&3,480\\\text { Treasury Stock-Common } && 3,300 \\\text { Paid-in Capital, Treasury Stock } && 180\end{array}$

question 113

Multiple Choice

A company purchases 400 shares of its $50 par value common stock at $55 per share.It then reissues 60 shares at $58 per share.The entry upon reissue of the stock would be:

• A)
• \(\begin{array}{l}
• \text { Cash }&3,480\\
• \text { Treasury Stock-Common } && 3,300 \\
• \text { Paid-in Capital, Treasury Stock } && 180
• \end{array}\)
• B)
• \(\begin{array}{l}
• \text { Cash } &3,480\\
• \text { Treasury Stock-Common }&&3,480
• \end{array}\)
• C)
• \(\begin{array}{l}
• \text { Cash } &3,480\\
• \text { Paid-in Capital, Treasury Stock }&&3,480
• \end{array}\)
• D)
• \(\begin{array}{l}
• \text { Cash } &3,480\\
• \text { Treasury Stock-Common } &&3,000\\
• \text { Retained Earnings }&&480
• \end{array}\)

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