If reissued above the repurchase cost, any gain is credited to APIC; if reissued below cost, the deficit is debited to APIC or to Retained Earnings if APIC is insufficient. Under the cost method, treasury stock is recorded at the price paid for the repurchase. There’s no immediate impact on APIC or Retained Earnings at

When shares are kept with the intention of future resale, these shares are known as treasury stock. On the shareholders’ equity section of the balance sheet, the “Treasury Stock” line item refers to shares that were issued in the past but were later repurchased by the company in a share buyback. Journalize the above transactions