Treasury stock account shows a balance, Accounting Basics

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Treasury stock account shows a balance

Coy, Inc. initially issued 200,000 shares of $1 par value stock for $1,000,000 in 2009. In 2010, the company repurchased 20,000 shares for $200,000. In 2011, 10,000 of the repurchased shares were resold for $160,000. In its balance sheet dated December 31, 2011, Coy, Inc.'s treasury stock account shows a balance of:

A. $0.

B. $40,000.

C. $100,000.

D. $200,000.

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Accounting Basics: Treasury stock account shows a balance

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Accounting Basics: Treasury stock account shows a balance

Reference No:- TGS079281

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Recent Questions Asked Accounting Basics

Q : What is total shareholders equity at the end

Q : Amount of dividends common shareholders will receive

Q : What is total paid-in capital at the end

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Q : Treasury stock account shows a balance

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Accounting Basics: Treasury stock account shows a balance

Reference No:- TGS079281

Recent Questions Asked Accounting Basics

Q : What is total shareholders equity at the end

Q : Amount of dividends common shareholders will receive

Q : What is total paid-in capital at the end

Q : Paid-in capital-excess of par increase for the transaction

Q : Treasury stock account shows a balance

Q : What is basic earnings per share

Q : Basic earnings per share computation concept

Q : Income tax payable for its first year of operations

Q : What deferred tax liability would isaac report

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