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Terri Company Has Never Had Any Treasury Stock Transactions

Question 63

Multiple Choice

Terri Company has never had any treasury stock transactions. On June 1 of the current year, they purchased 100 shares of its common stock (which has a par value of $30) for $15,000. On July 1, they reissued 50 of these shares at $156 per share.
What is the balance in the Paid-in- Capital, Treasury Stock account on July 1?


A) $ 450
B) $ 600
C) $ 300
D) $4,050

Correct Answer:

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