Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the balance in the Treasury Stock account on August 2?
A. $1,200 Credit.
B. $1,200 Debit.
C. $2,600 Credit.
D. $5,050 Debit.
E. $100 Credit.
Answer: B
You might also like to view...
Perceived customer value is determined by ________
A) subtracting relative cost of purchase from relative performance B) adding performance to enhancement value C) dividing product performance by average performance D) dividing product performance by the number of customers E) comparing the price-performance matrix entries
Which of the following factors is not a component of the fraud triangle?
A. Pressure B. Opportunity C. Rationalization D. All of the above are components of the fraud triangle.
When do firms recognize revenue?
Baseline management focuses on identifying, evaluating, documenting, and managing changes
Indicate whether the statement is true or false