History Bookmarks Window Help ezto.mheducation.com 0 nect ACCOUNTING ACCT 201: A

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History Bookmarks Window Help ezto.mheducation.com 0 nect ACCOUNTING ACCT 201: ACCT 201-001 Fall 2017 uiz instructions I help Question 2 (of 20) Save & Exit | Submit Time remaining: 0:59:14 On February 22, Brett Corporation acquired 200 shares of its $5 par value common stock for $25 each. On March 15, the company reissued 70 shares for $30 each. What is true of the entry for reissuing the shares? O Credit Treasury Stock $2100 O Credit Cash $1750 O Credit Additional Paid in Capital $350. O Debit Treasury Stock $1,750

Explanation / Answer

Journal entry :

so answer is c) Credit addtional paid in capital $350

Date accounts & explanation debit credit Cash a/c (70*30) 2100 Treasury stock a/c (70*25) 1750 Additional Paid in capital 350 (To record reissue of treasury stock)

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