Business, 28.12.2019 03:31, robertgib76

Fox co. issued 100,000 shares of common stock in the current year. on october 1, fox repurchased 20,000 shares of its common stock on the open market for $50.00 per share. at that date, the stock's par value was $1.00 and the average issue price was $40.00 per share. fox uses the cost method for treasury stock transactions. on december 1, fox reissued the stock for $60.00 per share. what account will be affected by the excess of the reissue price over the repurchase price?
a. $1
b. $0
c. $3
d. $7

Answers: 2

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Fox co. issued 100,000 shares of common stock in the current year. on october 1, fox repurchased 20,...