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Reika [66]
3 years ago
12

Five thousand shares of treasury stock of Marker, Inc., previously acquired at $14 per share, are sold at $20 per share. The ent

ry to record this transaction will include a:_________ a) debit to Treasury Stock for $70,000 b) debit to Paid-in Capital from Treasury Stock for $30,000 c) credit to Treasury Stock for $100,000 d) credit to Paid-in Capital from Treasury Stock for $30,000
Business
1 answer:
Artist 52 [7]3 years ago
6 0

Answer:

d) credit to Paid-in Capital from Treasury Stock for $30,000

Explanation:

The entry for profit in sale of treasury stock is as computed below

Account Details                               Debit      Credit

Cash (5000*20)                              $100,000

     To treasury stock (5000*14)                      $70,000

     To Additional paid in capital (5000*6)      $30,000

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