In Year 1, Stock to the Hand, Inc., issued 40,000 shares of the 800,000 shares of $0.40 par value common stock it is allowed to sell. The total received from issuing its common stock is $400,000. Stock to the Hand bought back 4,000 shares of its stock at a cost of $14 each. On December 31, the last day of Year 1, Stock to the Hand declared and paid a $0.80 per share dividend to its common shareholders. Stock to the Hand has no preferred stock. Treasury Stock on the balance sheet at December 31, Year 1, equals ______.
a. -56000
b. -55000
c. 54000
d. 60000
Ans: a. -56000
Business
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Business
________ occurs when product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones
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Business