Indicate whether the following statement is true or false, then support your view. Companies record gains...
Indicate whether the following statement is true or false, then support your view. Companies record gains and losses from trading on their own stock on the face of the income statement.
Homework Answers
| Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks! |
| The statement is false. |
| Because when own shares are purchased by the organization then treasury stock is debited. When those treasury stock are sold then any difference between the purchase price and sell price is directly adjusted to paid in capital in excess of par. The differential gain or loss should never adjusted to retained earnings or shown on the face of the income statement. |
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Indicate whether the following statement is true or false, then
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