Please help me Question 7In 2021, Daisy, Inc. reacquired 5,000 shares of its common stock astreasury shares at $15 per share. In 2022, Daisy, Inc. sold 2,500 shares ofthe treasury stock at $25 per share. Which of the following journalentries will Daisy record in 2022?dr. Cash $75,000; cr. Treasury stock $55,000; cr. PIC-share repurchase$20,000.O None of the options listed.O dr. Treasury stock $75,000; cr. Cash $75,000.O dr. Cash $62,500; cr. Treasury stock $37,500; cr. PIC-share repurchase$25,000.dr. Treasury stock $62,500; cr. Cash $62,500.

Treasury stock is that stock which is being reacquired or repurchased by the company from its…

In 2021, Daisy, Inc. reacquired 5,000 shares of its common stock as treasury shares at $15 per share. In 2022, Daisy, Inc. sold 2,500 shares of the treasury stock at $25 per share. Which of the following journal entries will Daisy record in 2022? O dr. Cash $75,000; cr. Treasury stock $55,000; cr. PIC-share repurchase $20,000. O None of the options listed. O dr. Treasury stock $75,000; cr. Cash $75,000. O dr. Cash $62,500; cr. Treasury stock $37,500; cr. PIC–share repurchase $25,000. O dr. Treasury stock $62,500; cr. Cash $62,500.

In 2021, Daisy, Inc. reacquired 5,000 shares of its common stock as treasury shares at $15 per share. In 2022, Daisy, Inc. sold 2,500 shares of the treasury stock at $25 per share. Which of the following journal entries will Daisy record in 2022? O dr. Cash $75,000; cr. Treasury stock $55,000; cr. PIC-share repurchase $20,000. O None of the options listed. O dr. Treasury stock $75,000; cr. Cash $75,000. O dr. Cash $62,500; cr. Treasury stock $37,500; cr. PIC–share repurchase $25,000. O dr. Treasury stock $62,500; cr. Cash $62,500.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 84PSA: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...

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