Journal entry to record the reacquisition of the stock, Accounting Basics

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Journal entry to record the reacquisition of the stock

On September 1, 2008, Zelner Company reacquired 12,000 shares of its $10 par value common stock for $15 per share. Zelner uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit

a. Treasury Stock for $120,000.

b. Common Stock for $120,000.

c. Common Stock for $120,000 and Paid-in Capital in Excess of Par for $60,000.

d. Treasury Stock for $180,000.

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Accounting Basics: Journal entry to record the reacquisition of the stock

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Accounting Basics: Journal entry to record the reacquisition of the stock

Reference No:- TGS096373

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Allocation to the common stock

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Journal entry to record the reacquisition of the stock

Reference No:- TGS096373

Recent Questions Asked Accounting Basics

Q : Allocation to the common stock

Q : Find the probability that person is man or a heavy smoker

Q : Should irs suspect tax payer has likely made error

Q : Total paid-in capital amounted

Q : Journal entry to record the reacquisition of the stock

Q : Generate a small table showing the range for variables

Q : Record the sale of the shares

Q : What other consideration regarding lengths be important

Q : Organisational behaviour

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