Vandalay Industries has 10,000 shares of treasury stock which it purchased for $10/share. It later resold 3,000 of those shares for $18/share. The amount to be credited to Paid-in Capital–Treasury Stock is:
A) $80,000.
B) $100,000.
C) $54,000.
D) $24,000.
D) $24,000.
Explanation: sale price - purchase price = p-i-c; example: (3,000 × $18) - (3,000 × $10) = $24,000
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