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Question 37 2 pts NICK Co. stockholders' equity account balance at December 31, 2014 were as follows: Common Stock 800,000 Additional Paid-in capital 1, 600, 000 Retained Earnings 1.845, 000 The following 2015 transactions and other information relate to the stockholders' equity accounts: 1. NICK CO. had 400, 000 authorized shares of P5 par common stock, of which 160, 000 shares were issued and outstanding. II. On March 5, 2015. NICK CO. acquired 5, 000 shares of its common stock for P10 per share to hold as treasury stock. The shares were originally issued at P15 per share. NICK CO. uses the cost method to account for treasury stock. Treasury stock is permitted in NICK CO.'s state of incorporation. IU. NICK CO.s net income for 2015 was P240,000. NICK CO.'s Additional Paid-in capital balance at December 31, 2015 is; Answer pattern: 1,000,000 Question 38 2 pts NICK Co. stockholders' equity account balance at December 31, 2014 were as follows: Common Stock 800, 000 Additional Paid-in capital 1, 600, 000 Retained Earnings 1.845,000 The following 2015 transactions and other information relate to the stockholders' equity accounts: 1. NICK CO. had 400, 000 authorized shares of P5 par common stock, of which 160.000 shares were issued and outstanding. II. On March 5, 2015, NICK CO. acquired 5. 000 shares of its common stock for P10 per share to hold as treasury stock. The shares were originally issued at P15 per share. NICK CO. uses the cost method to account for treasury stock. Treasury stock is permitted in NICK CO.'s state of incorporation, III. NICK CO.s net income for 2015 was P240,000. NICK CO.'s Retained Earnings balance at December 31, 2015 is: Answer pattern: 1.000.000 Question 39 2 pts NICK Co. stockholders' equity account balance at December 31, 2014 were as follows: Common Stock 800,000 Additional Paid-in capital 1, 600,000 Retained Earnings 1.845,000 The following 2015 transactions and other information relate to the stockholders' equity accounts: 1. NICK CO. had 400, 000 authorized shares of P5 par common stock, of which 160, 000 shares were issued and outstanding. II. On March 5, 2015, NICK CO. acquired 5.000 shares of its common stock for P10 per share to hold as treasury stock. The shares were originally issued at P15 per share. NICK CO. uses the cost method account for treasury stock. Treasury stock is permitted in NICK CO.'s state of incorporation. III. NICK CO.'s net income for 2015 was P240.000. NICK CO.'s Treasury Stock balance at December 31, 2015 is: Answer pattern: 1,000,000 Question 40 2 pts NICK Co. stockholders' equity account balance at December 31, 2014 were as follows: Common Stock 800,000 Additional Paid-in capital 1, 600,000 Retained Earnings 1,845, 000 The following 2015 transactions and other information relate to the stockholders' equity accounts: T. NICK CO. had 400, 000 authorized shares of P5 par common stock, of which 160, 000 shares were issued and outstanding. II. On March 5, 2015, NICK CO. acquired 5,000 shares of its common stock for P10 per share to hold as treasury stock. The shares were originally issued at P15 per share. NICK CO. uses the cost method to account for treasury stock. Treasury stock is permitted in NICK CO.'s state of incorporation. III. NICK CO.'s net income for 2015 was P240.000. NICK CO.'s Stockholders Equity balance at December 31, 2015 is; Answer pattern: 1,000,000

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