On august 1 it reissued the remaining treasury shares at 49, Ask an Expert

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Prior to June 1, a company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on June 1 for $5,000. On July 1, it reissued 50 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?

a. $5,050.
b. $2,600.
c. $100.
d. $50.
e. $0.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9403776

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