Journal entry for re-issuance of stock

Reference no: EM1356729

Choose an answer:

A company purchases 300 shares of its $100 par value stock at $110 per share. It then reissues 50 shares at $115 per share. The entry upon re-issuance of the stock would include a

a. debit to Retained Earnings for $250.
b. credit to Cash for $5,750.
c. credit to Treasury Stock for $5,750.
d. credit to Additional Paid-in Capital, Treasury Stock for $250.
e. credit to Retained Earnings for $750.

Explain your answer.

Reference no: EM1356729

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