Question

Treasury stock that had been purchased for $4,330 last month was reissued this month for $5,190. The journal entry to record the reissuance would include a credit to:______

Answer 1

Credit to Paid-In Capital from Treasury Stock for $860

Step-by-step explanation:

Based on the information given we were told that Treasury stock was purchased for the amount of $4,330 last month in which it was reissued this month for the amount of $5,190 which means that The journal entry to record the reissuance would include a credit to:

Paid-In Capital from Treasury Stock for $860

Calculated as:

Reissued treasury stock $5,190

Less last month Treasury stock $4,330

Paid-In Capital from Treasury Stock 860