Business, 03.08.2021 03:00 nommies005

In year 1, Pride Corp. issued 10,000 shares of $1 par value common stock for $8 per share. In year 3, Pride repurchased and immediately retired 1,000 shares of the stock at $6 per share. Which of the following entries would be required to retire the shares? a. Credit paid-in capital $7,000.
b. Debit common stock $6,000
c. Debit paid-in capital in excess of par $7,000.
d. Debit retained earnings $6,000.
e. Credit common stock $6,000.

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In year 1, Pride Corp. issued 10,000 shares of $1 par value common stock for $8 per share. In year 3...

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