On January 1, 20x5, Dove Valley Corporation had 100,000 shares of $10 par value common stock issued and outstanding. All 100,000 shares had been issued in a prior period at $30 per share. On February 1, 20x5, Dove Valley purchased 4,000 shares of treasury stock for $36 per share and later sold the treasury shares for $40 per share on March 2, 20x5. The entry to record the purchase of the treasury
shares on February 1, 20x5, is:
A) Cash 144,000 Treasury Stock-Common 144,000
B) Cash 144,000 Treasury Stock-Common 128,000Gain on Treasury Stock-Common 16,000
C) Treasury Stock, Common 40,000 Loss on Treasury Stock-Common 104,000Cash 144,000
D) Treasury Stock, Common 144,000 Cash 144,000
D
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Answer the following statement true (T) or false (F)
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Indicate whether this statement is true or false.
When Castrol Syntec, a premium motor oil, sought a new way to reach its young, car-passionate audience, the brand found its mark with video games. In its first-ever attempt at in-game advertising, Castrol Syntec found a way to show consumers (in a virtual world) the brand's power and performance. In the communication process, the game served as a(n) ____ for transmitting the message.
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