Difference between cost and sales price


Wilson Corp. purchased its own par value stock on January 1, 2007 for $20,000 and debited the treasury stock account for the purchase price. The stock was subsequently sold for $12,000. The $8,000 difference between the cost and sales price should be recorded as a deduction from ??

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Difference between cost and sales price
Reference No:- TGS071716

Expected delivery within 24 Hours