On October 1, 2015, Adoll Company acquired 1,600 shares of its $1 par value stock...
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Accounting
On October 1, 2015, Adoll Company acquired 1,600 shares of its $1 par value stock for $50 per share and held these shares in treasury. On March 1, 2017, Adoll resold all the treasury shares for $46 per share. Which of the following entries would be recorded when Adoll Company resells the shares of treasury stock?
Cash
73,600
Loss on sale of treasury stock
6,400
Treasury Stock
80,000
Cash
73,600
Additional paid-in capital
6,400
Common Stock
80,000
Cash
73,600
Additional paid-in capital
6,400
Treasury Stock
80,000
Cash
73,600
Common Stock
1,600
Additional paid-in capital
72,000
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