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1. Provide a brief written description of the proper accounting treatment, including how the extra $10 paid per share is recorded.

2. Prepare a formal journal entry to record the treasury stock transaction.

3. Identify the specific paragraph of the FASB Codification which addresses this issue and submit a printout of this paragraph with your solution.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941725

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