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Submitted 209 days ago...

Iapetus699

Iapetus699

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Treasury stock

The following two items are disclosed in the stockholders' equity section of Kent corp. Dec. 31 2006 balance sheet.
Treasury stock ( 500 shares, at cost 30,000
Additional paid-in capital: treasury stock transactions 10,000
If the company had reacquired 3,000 shares of treasury stock in Feb. of 2006, then some of the treasury stock must have been sold during 2006 for:
A $ 64 per share
B $ 64 per share above its cost
C $ 4 per share.
D $ 4 per share above it par value.

 
 
 
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