Riot-Still Kids 4: y D Chapter 1 1 Quiz ezto.mheducatiomcom/hm.tpx connect ACCOU

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Riot-Still Kids 4: y D Chapter 1 1 Quiz ezto.mheducatiomcom/hm.tpx connect ACCOUNTING r 11 Quiz Question 3 (of 10 Anthem Inc. Issues 200,000 shares of stock with a par value of $0.15 for $164 per share. Three years later. It repurchases these shares for $94 per share. Anthem records the repurchase in which of the following ways? O Debit Common Stock for $30.000, debit Additional Paid-in Capital for $18.770.000 and credit Cosh for $18.80 million. O Debit Common Stock for $30.000, debit Additional Paid-in Capital for $32.770.000 and credit Cash for $32.80 million. O Debit Treasury Stock for $18.80 milion and credit Cash for $18.80 millon. O Debit Stockholders' Equity for $32.80 millon, credit Additional Paid-in Copitai for $18.80 million and credt Cash for $18.80 milition

Explanation / Answer

Solution:- Debit common stock for $30,000, debit additional paid-in capital for $18,770,000 and credit cash for $18.80 million

Explanation:-

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Date Account explanation Debit Credit Calculation Common stock 30,000 200,000 * 0.15 Additional paid in capital 18,770,000 200,000 * (94 - 0.15) Cash 18,800,000 200,000 * 94

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