Unformatted text preview: difference between the selling price and the repurchase price. If Soccer Trio Corporation subsequently sells 7,500 of the shares repurchased for $25 for $28, the entry to record the sale would be as shown: General Journal Date Account Title and Description Ref. Debit Credit 20X1 June 15 Cash (7,500 × $28) 210,000 Treasury Stock (7,500 × $25) 187,500 Additional paid-in-capital (treasury stock) 22,500 Record sale of 7,500 shares of treasury stock at $28...
View Full Document
This note was uploaded on 11/15/2011 for the course ACCT 2310 taught by Professor Staff during the Spring '09 term at Texas State.
- Spring '09
- Treasury Stock