Homework Answers
option A
purchase price of each share = 300000/30000 = 10
no of shares resold = 15000
| date | particulars | debit | credit |
| (purchase of treasury stock) | |||
| treasury stock A/c | 300000 | ||
| to cash A/c | 300000 | ||
| reissue ( 15000 shares) | |||
| cash A/c | 240000 | ||
| to treasury stock A/c (15000*10) | 150000 | ||
| to additional paid in capital | 90000 |
balance in treasury stock = 300000-150000
= 150000
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