Refurbish, Inc. bought 1,000 shares of its own stock at $8 a share. Later, it reissued the shares for $10,000. The effect of the entry to record the sale of treasury stock on the accounting equation includes a(n) ______.Multiple choice question.$8,000 increase in stockholders' equity$10,000 decrease in stockholders' equity$8,000 decrease in stockholders' equity$10,000 increase in stockholders' equity

Refurbish, Inc. reissued 1,000 shares of its treasury stock for $10,000. Prior to the reissuance, the Treasury Stock balance was $12,000, which included the $8,000 cost of the 1,000 shares reissued. As a result of this transaction, Refurbish's ______. (Check all that apply.)Multiple select question.stockholders' equity on the balance sheet will be $10,000 highertreasury stock on the balance sheet will equal $4,000stockholders' equity on the balance sheet will be $8,000 highernet income on the income statement will be $2,000 higher

Which of the following entries would be recorded when a company reissues 1,000 shares of treasury stock for $35 per share when they were reacquired at a cost of $36 per share and have a $1 par value?Group of answer choicesCash                                         + $35,000Treasury Stock                         -   36,000Paid in capital, treasury stock  -   1,000Cash                                         + $35,000Treasury Stock                         - $36,000Gain on sale of stock                +    1,000Cash                                         + $35,000Treasury Stock                         +    1,000Paid in capital, treasury stock  +  34,000Cash                                         + $35,000Treasury Stock                         -   36,000Investment income                   +   1,000

A firm has a market value equal to its book value. Currently, the firm has excess cash of $2,600 and other assets of $5,000. Equity is worth $7,600. The firm has 950 shares of stock outstanding and net income of $1,150. The firm has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

A company resells 400 shares of its own common stock for $20 per share. The company had acquired these shares two months before for $15 per share. The resale of this stock would be recorded with a:Multiple ChoiceCredit to Treasury Stock for $8,000.Debit to Common Stock for $8,000.Debit to Additional Paid-in Capital for $2,000.Credit to Additional Paid-in Capital for $2,000.

A company reported the following stockholders’ equity on January 1 of the current year:Common stock–$10 par value, 1,000,000 shares authorized; 270,000 shares issued $ 2,700,000Paid-in capital in excess of par value, common stock 1,280,000Retained earnings 1,695,000Total stockholders’ equity $ 5,675,000Prepare journal entries for the following selected transactions.March 1  Purchased 12,000 shares of its own stock for $25 cash per share.May 5  Sold 6,000 shares of its treasury stock for $25 cash per share.October 12  Sold 4,000 shares of its treasury stock for $26 cash per share.