Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on 2019 march 28, alt corp reacquired 300 shares o

On 2019 March 28, Alt Corp reacquired 300 shares of its outstanding common stock for...

50.1K

Verified Solution

Question

Accounting

On 2019 March 28, Alt Corp reacquired 300 shares of its outstanding common stock for OMR 65 each. The company reissued 140 shares worth OMR 68 each on May 28, 2019. What will be the journal entry the company reacquired shares on 2019 March 28? choose:

a- Dr Treasury stock 19500, Cr bank 19500

b-Dr Treasury stock 9520, Dr share capital 9520

c- Dr bank 20400, Dr share premium 20400

d-Dr bank 19500, Dr Treasury stock 19500

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

Accounting
1.2K views

Porter Corporation owns all 30,000 shares of the common stock of Street, Inc. Porter has 65,000...

Basic Math
1.2K views

A rehabilitation center researcher was interested in examining the relationship between physical fitness prior to surgery...

Civil Engineering
1.2K views

Multiple choice Mark one or more correct answers to the following questions: a. Which of the following...

Electrical Engineering
1.2K views

How can you compensate for the impact of the Doppler Effect in cellular system? Explain.

Physics
1.2K views

Fant Size A TA TA The work function of copper surface is 45 eV The...

Basic Math
1.2K views

Answer the questions for the function f x a Find formulas for f x and...

Basic Math
1.2K views

If h= - 16t + 112t represents the height of a rocket, in feet, t...

Calculus
1.2K views

Question 10 The graph of g is given below 6 5 4 3 2 1...

Accounting
1.2K views

11. Rich Company's experience shows that 10% of its sales are for cash and 90%...

Accounting
1.2K views

Hi - I need to find a relevant case regarding deducting marijuana as a...

Accounting
1.2K views

Which of the following is NOT an example of an assest? Unused Supplies ...

Finance
1.2K views

You are interested in purchasing the common stock of Azure Corporation. The firm recently paid...