In 2015, Broyles, Inc. reacquired 3,000 shares of its common stock at $55 per share. In 2016, Broyles, Inc. reissued 1,000 shares of the stock at $75 per share. Which of the following would be included in the 2016 entry?
a. Credit Cash for $165,000.
b. Debit Treasury Stock for $75,000.
c. Credit Treasury Stock for $55,000.
d. Credit Cash for $75,000.
Ans: c. Credit Treasury Stock for $55,000.
Business
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