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alex41 [277]
3 years ago
6

Sheffield Company originally issued 5400 shares of $10 par value common stock for $162000 ($30 per share). Sheffield subsequentl

y purchases 530 shares of treasury stock for $26 per share and resells the 530 shares of treasury stock for $31 per share. In the entry to record the sale of the treasury stock, there will be a:______.
a. credit to Paid-In Capital from Treasury Stock for $2650.
b. credit to Common Stock for $13780.
c. credit to Treasury Stock for $5300.
d. debit to Paid-In Capital in Excess of Par of $15900.
Business
1 answer:
dalvyx [7]3 years ago
4 0

Answer:

a. credit to Paid-In Capital from Treasury Stock for $2650.

Explanation:

the complete journal entries required to record the 3 operations:

Dr Cash 162,000

    Cr Common stock 54,000

    Cr Additional paid in capital 108,000

Dr Treasury stock 13,780

    Cr Cash 13,780

Dr Cash 16,430

    Cr Treasury stock 13,780

    Cr Additional paid in capital 2,650

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Jamal purchased a Subway franchise in a great location across the street from an outlet mall. After two years in business, Jamal
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The correct answer to this open question is the following.

Although the question is incomplete because it does not attach the model to answer it we can comment on the following.

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yulyashka [42]

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Explanation:

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<em> M2 money supply comprises of  Certificate deposit and M1, savings, money market funds, and time deposits for example, M2 money supply comprises   money.  that is less liquid/</em>

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