November 2003
Intermediate to advanced
186 pages
2h 50m
English
Content preview from Accounting Demystified
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Treasury Stock
When a company buys its own stock in the open market, the entry is fairly straightforward. The company records the amount paid as a debit to Treasury stock (which is a reduction in the stockholders' equity section) and a credit to Cash for the amount paid for the stock.
Let's assume that on December 11, 2002, a company repurchases 1,000 shares of its stock in the open market at a price of $4.00 per share. The entry to record the repurchase is:
The stockholders' equity section of the balance sheet will appear as follows:
| Stockholders' equity | |
| Common stock (1,000,000 shares authorized, 500,000 issued, and 499,000 outstanding; par value ... |
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