There were 10,000 shares issued and outstanding before T-ball, Inc., decided to buy back some of its own stock to have on hand for end-of-year bonuses. It buys 200 shares at $30 per share. What happens to SE?
A. 0 No Effect
B. (10,000) Treasury Stock
C. (6,000) Treasury Stock
D. 10,000 Common Stock; (10,000) Treasury Stock
E. 6,000 Common Stock; (6,000) Treasury Stock
F. (10,000) Cash
G. (6,000) Cash
H. 6,000 Cash
Answer: C. (6,000) Treasury Stock
Business
You might also like to view...
Temporary, freelance, or contract workers are known as ________
A) communities of practice B) contingent workers C) passive labor D) virtual employees
Business
Which one of the approaches for the allowance procedure emphasizes the net realizable value of accounts receivable on the balance sheet?
A) The percentage-of-receivables approach B) The percentage-of-sales approach C) The percentage-of-accounts written off method D) The direct write-off method
Business