Business, 30.03.2020 23:11, marvin07

In 2020, Hobbs Corp. acquired 15,000 shares of its own $1 par value common stock at $18 per share. In 2021, Hobbs issued 10,000 of these shares at $25 per share. Hobbs uses the cost method to account for its treasury stock transactions. What accounts and what amounts should Hobbs credit in 2021 to record the issuance of the 10,000 shares

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In 2020, Hobbs Corp. acquired 15,000 shares of its own $1 par value common stock at $18 per share. I...