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  3. 1. hillside corporation has 80,000 shares of commo

1. Hillside Corporation has 80,000 shares of common stock issued at $55 each and still...

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Accounting

1. Hillside Corporation has 80,000 shares of common stock issued at $55 each and still outstanding. Contributed surplus relating to this class of stock is $15,000 and relating to all classes of stock is $60,000. The balance in retained earnings is $175,000. If Hillside repurchases 2,000 shares of this class of common stock for $62, the balance in the common stock account would decrease by: a. $62,000 b. $124,000 c. $110,000 d. $55,000 e. none of the above but $ . 2. By how much if any will the contributed surplus relating to this class of common stock decrease? a. $14,000 b. $1,000 c. zero d. $1,500 e. none of the above but $ .

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