Balance in the paid-in capital from treasury stock account, Accounting Basics

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Balance in the paid-in capital from treasury stock account

Harry Co. was organized on January 2, 2012, with 500,000 authorized shares of $10 par value common stock. During 2011, Harry had the following capital transactions: January 2-issued 375,000 shares at $14 per share. July 30-purchased 25,000 shares at $11 per share. November 30-sold 10,000 shares of treasury stock at $13 per share. Harry used the cost method to record the purchase of the treasury shares. What would be the balance in the Paid-in Capital from Treasury Stock account at December 31, 2012?

a. $10,000.

b. $20,000.

c. $30,000.

d. $40,000.

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Accounting Basics: Balance in the paid-in capital from treasury stock account

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Accounting Basics: Balance in the paid-in capital from treasury stock account

Reference No:- TGS039646

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Balance in the paid-in capital from treasury stock account

Reference No:- TGS039646

Recent Questions Asked Accounting Basics

Q : Find expected utility without health insurance

Q : Explain why the outcome was predictable

Q : Interest on projected benefit obligation

Q : Annual holding period return over first two years

Q : Balance in the paid-in capital from treasury stock account

Q : Will insurance provides full coverage arise in the market

Q : Liquidation value per share of common stock

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Q : How to reduce the moral hazard problem

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