Gaines originally issued 15,000 shares of $10 par value common


Question Description:

30

Gaines originally issued 15,000 shares of $10 par value common stock at $15 per share. During the current year, 1,000 of these shares were reacquired for $20 each. 500 treasury shares are subsequently reissued at $25 per share: The reissuance entails a credit to Treasury Stock for $2,500. The reissuance entails a credit to Treasury Stock for $5,000. The reissuance entails a credit to Treasury Stock for $10,000. None of these. The reissuance entails a credit to Treasury Stock for $12,500.

Answer

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