Refer to the information above. If Caesar Corporation had reacquired 7,000 shares of treasury stock early in 2009, then some treasury stock must have been sold during 2009 for:

Question

Quizplus · Accepted Answer

If Caesar Corporation reacquired 7,000 shares of treasury stock early in 2009, then the number of outstanding shares decreased by 7,000. However, the number of outstanding shares was reported to have increased by 2,000 by the end of 2009. This means that 9,000 shares of treasury stock must have been sold during the year. The total cost of the treasury stock sold was $108,000 (9,000 shares x $12 per share). Therefore, the best choice is B, $12.00 per share.

Refer to the Information Above