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Homework answers / question archive / The entry to record the reissuance of treasury shares above their original acquisition cost includes a
The entry to record the reissuance of treasury shares above their original acquisition cost includes a. a credit to share premium b. a debit to share premium c. a debit to retained earnings d. b and c
Answer
a .
Explanation
| Journal Entry: | |||
| Date | Account Titles and Explanation | Debit | Credit |
| Cash | XXX | ||
| Treasury Shares | XXX | ||
| Share Premium | XXX | ||
| (Being entry made to record the reissuance of treasury shares above acquisition cost) | |||
So, the correct option is A "Share Premium".
