.11 Verizon 8:18 PM Expert Q&A; The following information applies to the questio

Question

.11 Verizon 8:18 PM Expert Q&A; The following information applies to the questions displayed below. ElectricCity Corporation designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players. In 2014, ElectricCity Corporation had the largest market value of any company. ElectricCity Corporation has over 92,000 full-time employees. The company's statement of cash flows contained the following information (in millions) Required: 1. Prepare the journal entry to record the purchase of treasury stock in 2014. (If n entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5)) 0 1 solution Performer 4 minutes later Please let me know in case you face any issue Treasury Stock 1156

Explanation / Answer

Cash $10.6 Million Treasury Stock $9.3 Million Additional Paid in capital from sale of treasury stock $1.3 Million (Being Resale of Treasury Stock)

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