Question

9. T Corporation is authorized to issue
500,000 common stock at $10 par value. As
of December 31, 2019 the corporation has
350,000 common stock issued and
outstanding. On February 14, 2020, the
market price of the stock is $17. On the same
date, T Corporation acquired 50,000 stocks
at $15. On March 5, 2020, the company
reissued 25% of the treasury stocks at $20.
Which of the following will be included in the
entry to record the transaction on March 5,
2020?​

Answer 1

Answer:

lol

Explanation:

T Corporation is authorized to issue 500,000 common stock at $10 par value. As of December 31, 2019 the corporation has 350,000 common stock issued and outstanding. On February 14, 2020, the market price of the stock is $17. On the same date, T Corporation acquired 50,000 stocks at $15. On March 5, 2020, the company reissued 25% of the treasury stocks at $20. Which of the following will be included in the entry to record the transaction on March 5, 2020?