Question

Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] CR [Select] CR [Select ] [Select] Treasury Stock $500 PIC-Treasury Stock $14,000 Treasury Stock $14,500 PIC-Treasury Stock $500

Answer 1

Answers

Accounts title	Debit	Credit
Treasury Stock (250 m x $ 140)	$35,000
Cash		$35,000
(to record repurchase)
Cash (100 shares x $ 145)	$14,500
PIC Treasury Stock (100 shares x $ 5)		$500
Treasury Stock (100 shares x $ 140)		$14,000
(to record re sale)