Credit to paid-in capital from treasury stock


Salon company originally issued 3,000 shares of $10 par value common stock for $90,000 . Salon subsequently purchases 300 shares of treasury stock for $27 per share and resells the 300 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a a. credit to Paid-In Capital from Treasury Stock for $600 b. credit to Common Stock for $8,100 c. credit to Treasury Stock for $3,000 d. debit to Paid-In Capital in Excess of Par of $9,000.

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Accounting Basics: Credit to paid-in capital from treasury stock
Reference No:- TGS0674643

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