Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 200 shares of its common stock on May 1 for $10,000. On July 1, it reissued 100 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?
A. $10,100.
B. $0.
C. $100.
D. $10,200.
E. $5200.
Answer: C
Business
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