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16 treasury stock shares are

A. shares held by the US Treasury Department

B issued shares held by stockholders in the treasury

C issued shares that are held by the treasurer of the corporation

D part of the total outstanding shares but not part of the total issued shares of a corporation.

17. the journal entry to record the sale of Treasury stock might include

a. accredited paid in capital from sale of Treasury stock

b. a debit to paid-in capital for sale of Treasury stock

c a credit to treasury stock

d. all of these choices are correct

18 when treasury stock is purchased treasury stock is

a. Debited for the par value of the stock

b debited for the purchase price of the stock

c credited for the purchase price of the stock

d Craigslist for the par value of the stock

19. a corporation purchases 1000 shares of its own common stock for $4,000 on February 13th on April 13th half of the treasury stock was sold for $3,000 on April 26th the other half of the treasury stock was sold for $1,800. the entry to record the April 26th sale would include a

a. a credit to cash for $1,800

b debit to paid in capital from sale of Treasury stock for $200

c. credit to paid in capital from sale of Treasury stock for $1,200

d debit to treasury stock for $2,000

21. a restriction and appropriation of retained earnings

a. decreases total assets

b the creases Total return earnings

c does not change the balance of retained earnings

d increases total retained earnings

22. which of the following statements is not correct with regard to Prior period Adjustments

a. prior. Adjustments are arrows found in a period after the area occurred

b, prior. Adjustments arise from mathematical mistakes in the previous.

c. prior period adjustments are reported as an adjustment to the ending balance of retained earnings in the current.

d., all of these choices are correct

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