Answered

Keys, Inc. purchased 100 shares of its own common stock for $10 per share. The stock is now classified as ______ stock, a contra equity account, reported on the statement of stockholder's equity. Multiple choice question. convertible treasury callable preferred g

Answer :

Answer:

treasury

Explanation:

Treasury shares are shares that have been issued and later repurchased by the company. They decrease the total number of shares outstanding .

Treasury shares are not used to calculate earnings per share

treasury shares do not have voting rights

Treasury stock is a contra equity account recorded in the shareholder's equity

Other Questions