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Discuss the entry to record the corporations purchase

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Reference no: EM131748185

Ross Corporation reported the following:

CommonStock, $5par, 206,000 sharesauthorized, 165,000 shares issued $825,000
Paid in Capital in Excess of Parlong dash-Common 214,000
Retained Earnings 222,000
TotalStockholders' Equity
$1,261,000

Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $10.00 per share?

A. Paid-In Capital From Treasury Stock Transactions is credited for $25,000.

B. Common Stocklong dash-$5 Par Value is credited for $200,000.

C. Treasury Stocklong dash-Common is debited for $400,000.

D. Retained Earnings is debited for $400,000.

Reference no: EM131748185

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