The Journal Entry to Record the Reissuance of the 600

question 136

Multiple Choice

The journal entry to record the reissuance of the 600 shares of stock on October 15 includes a:

• A)Credit to Common Stock of $6,000.
• B)Credit to Additional Paid-In Capital: Treasury Stock Transactions of $3,000.
• C)Credit to Gain on Treasury Stock Transactions of $3,000.
• D)Credit to Treasury Stock Reissued of $39,000.

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Definitions:

Underapplied

A situation where the allocated overhead costs are less than the actual overhead costs incurred.

Factory Overhead

All costs related to manufacturing that are not direct materials or direct labor.

Machine Hours

A measure of the total time that machinery is operated during a given period for manufacturing or producing something.

Bar Code Scanners

Electronic devices used to read and output printed barcodes to a computer, facilitating inventory management and sales operations.