The shares purchased in the previous question are sold 2 months later for $40 per...

50.1K

Verified Solution

Question

Accounting

The shares purchased in the previous question are sold 2 months later for $40 per share. What is the amount of Paid-In Capital from Treasury Stock for this transaction?

Previous Question information : purchase of 1,000, $3 par value common stock for $30 as treasury shares

a.) $0

b.) $10

c.) $10,000

d. ) $30,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students