The entry to record the reissuance of treasury shares above their original acquisition cost includes a

Accounting May 27, 2021

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

Expert Solution

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".

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