Atlanta Corp. recently sold 3,000 shares of treasury stock for $51 per share. The stock had been purchased for $27 per share. The par value of Atlanta's common stock is $1 per share. Based on this transaction, Atlanta's
A) common stock account increased by $3,000.
B) additional paid-in capital on treasury stock account increased by $72,000.
C) gain on sale of treasury stock account increased by $72,000.
D) additional paid-in capital on common stock account increased by $72,000.
E) both a and c.
Correct Answer:
Verified
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A) is subject to preemptive right
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A)
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