Solved

Sosa Co'S Stockholders' Equity at January 1, 2014 Is as Follows

Question 100

Multiple Choice

Sosa Co.'s stockholders' equity at January 1, 2014 is as follows: Sosa Co.'s stockholders' equity at January 1, 2014 is as follows:   During 2014, Sosa had the following stock transactions:Acquired 6,000 shares of its stock for $270,000.Sold 3,600 treasury shares at $50 a share.Sold the remaining treasury shares at $41 per share.No other stock transactions occurred during 2014. Assuming Sosa uses the cost method to record treasury stock transactions, the total amount of all additional paid-in capital accounts at December 31, 2014 is A)  $591,600. B)  $570,000. C)  $608,400. D)  $627,600. During 2014, Sosa had the following stock transactions:Acquired 6,000 shares of its stock for $270,000.Sold 3,600 treasury shares at $50 a share.Sold the remaining treasury shares at $41 per share.No other stock transactions occurred during 2014. Assuming Sosa uses the cost method to record treasury stock transactions, the total amount of all additional paid-in capital accounts at December 31, 2014 is


A) $591,600.
B) $570,000.
C) $608,400.
D) $627,600.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents