QUESTION 2 In 2012, Company issued 10 share of $1 par value common stock at $10

Question

QUESTION 2 In 2012, Company issued 10 share of $1 par value common stock at $10 per share and prepared the following journal entry: Cash $100 APIC, common stock. $90 In 2018, Company repurchases 1 share of this common stock for $15 and immediately retires the share (it is never held as a treasury share). The share repurchase and retirement in 2018 will result in the following changes to total owners' equity and total paid-in capital (contributed capital): Owners' equity Paid-in capital (a) Increase $15 (b) Decrease $10 (c) Decrease $15 (d) Decrease $15 Increase $10 Decrease $5 Decrease $10 Decrease $15

Explanation / Answer

The ANSWER of this question should be :-

Incarease 15$ in Owner's equity and decrease 10$ in paid up capital.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---