Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 300 shares of its common stock on May 1 for $15,000. On July 1, it reissued 150 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) $15,150. b) $7,800. c) $30,300. d) $150. e) $0
Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 300 shares of its common stock on May 1 for $15,000. On July 1, it reissued 150 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) $15,150. b) $7,800. c) $30,300. d) $150. e) $0
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10EA: Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share...
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Prior to May 1, Fortune Company has never had any
company repurchased 300 shares of its common stock on May 1 for $15,000. On July 1,
it reissued 150 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) $15,150.
b) $7,800.
c) $30,300.
d) $150.
e) $0.
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