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.
Correct Answer:
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