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Voiles Company reissued 200 shares of its treasury stock. Th…
Voiles Company reissued 200 shares of its treasury stock. The treasury stock originally cost $25 per share and was reissued for $35 per share. Select the answer that accurately reflects how the reissue of the treasury stock would affect Voiles financial statements. Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+ Stockholders’ EquityCash+Accounts Receivable=Accounts Payable+Other Equity Accounts−Treasury Stock+Paid-in Capital from Treasury StockRevenue−Expenses=Net IncomeA.7,000+ = + −(5,000)+2,000 − = 7,000 FAB.7,000+ = + −5,000+2,000 − = 7,000 IAC.7,000+ = + − +7,000 − = 7,000 FAD.5,000+ = + − +5,000 − = 5,000 FA
Voiles Company reissued 200 shares of its treasury stock. Th…
Questions
Vоiles Cоmpаny reissued 200 shаres оf its treаsury stock. The treasury stock originally cost $25 per share and was reissued for $35 per share. Select the answer that accurately reflects how the reissue of the treasury stock would affect Voiles financial statements. Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+ Stockholders’ EquityCash+Accounts Receivable=Accounts Payable+Other Equity Accounts−Treasury Stock+Paid-in Capital from Treasury StockRevenue−Expenses=Net IncomeA.7,000+ = + −(5,000)+2,000 − = 7,000 FAB.7,000+ = + −5,000+2,000 − = 7,000 IAC.7,000+ = + − +7,000 − = 7,000 FAD.5,000+ = + − +5,000 − = 5,000 FA
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