A Corporation Originally Issued $7 Par Value Common Stock for $15

question 66

Multiple Choice

A corporation originally issued $7 par value common stock for $15 per share.Which of the following is included in the entry to record the purchase of 300 shares of treasury stock for $12 per share?

• A)Treasury Stock-Common is debited for $3,600.
• B)Treasury Stock-Common is credited for $45.
• C)Retained Earnings is debited for $1,800.
• D)Treasury Stock-Common is debited for $1,800.

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Definitions:

Network Data

Information that is processed, stored, or transmitted over a network of interconnected computers and devices.

PAN

Personal Area Network, a network for the interconnection of personal computing devices within the range of an individual, typically within a range of 10 meters.

LAN

Stands for Local Area Network, a computer network that interconnects computers within a limited area such as a residence, school, or office building, facilitating communication and resource sharing.

WAN

An acronym for Wide Area Network, it's a telecommunications network that extends over a large geographic area for the purpose of computer networking.