Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jinkins company purchased 2,500 shares of its own

Jinkins Company purchased 2,500 shares of its own $10 par common stock for $14 per...

90.2K

Verified Solution

Question

Accounting

image
image
Jinkins Company purchased 2,500 shares of its own $10 par common stock for $14 per share. Two months later, Jinkins sold 300 shares of treasury stock for $11 per share. What would be the journal entry for the sale of the treasury stock assuming the Paid - in Capital from Treasury Stock Transactions has a credit balance of $2,500? C. Treasury Stock - Common Paid-in Capital from Treasury Stock Transactions Cash 5,800 2,500 3,300 D. Cash Retained Earnings 3,300 900 Treasury Stock - Common 4,200

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

5 ASF molecule is trigonal bipyramidal The orbitals of As atom involved in hybridisation are...

Basic Math
1.2K views

v RS has points R 2 11 and S 14 8 What are the magnitude...

Biology
1.2K views

1. What function of intermediate filaments is lacking in people with epidermolysis bullosa complex? A) what type of...

Chemistry
1.2K views

Discussion about: Nuclear Energy There are different public opinions about using nuclear energy in producing electrical energy. Nuclear...

General Management
1.2K views

Project Management: If I cannot resolve over allocation by leveling within slack, what can I consider to...

Physics
1.2K views

An object moving at a speed of 5 m s towards a concave mirror of...

Statistics
1.2K views

K Which distribution should be used to construct the confidence interval Use the standard normal...

Accounting
1.2K views

Help Save & ExIt Submlt At the beginning of October, Bowser Company's inventory consists...

Accounting
1.2K views

Determine the price of a $1.2 million bond issue under each of the following independent...

Accounting
1.2K views

EA 4. LO 13.1 On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a...

Accounting
1.2K views

Adams, Inc., acquires Clay Corporation on January 1, 2017, in exchange for $663,000 cash. Immediately...

Finance
1.2K views

Project 0 -1000 200 2 300 3400 4 500 600 6 700 7800 8 900...