Assume that retained earnings had a beginning balance of $75,000. Match the following amounts to the appropriate term (a-h).
-Treasury Stock = Number of Common Stock Purchased × Purchase Price of Common Stock = 1,000 × $15 = $15,000
A)Treasury stock
B)Retained earnings
C)Preferred stock
D)Excess of issue price over par (preferred)
E)Common stock
F)Total paid-in capital
G)Excess of issue price over par (common)
H)Total stockholders' equity

Question

Quizplus · Accepted Answer

Treasury stock is calculated as the number of common stock purchased multiplied by the purchase price of common stock, which is given as 1,000 shares at $15 each, totaling $15,000.

Assume That Retained Earnings Had a Beginning Balance of $75,000