Treasury stock is a contra stockholders’ equity account. 1. Treasury stock should not be classified as a current asset. 2. Treasury stock purchased for $25 per share that is reissued at $20 per share, results in a Loss on Sale of Treasury Stock being recognized on the income statement. 3. Treasury stock is a contra stockholders’ equity account. 4. The number of common shares outstanding can never be greater than the number of shares issued. 5. Preferred stock has contractual preference over common stock in certain areas. Business Assignment Help, Business Homework help, Business Study Help, Business Course Help
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