Caesar & Company reacquired 30,000 shares of its common stock for $10 per share on March 1. On April 1 they sold 8,000 shares for $16 per share. On May 1 they sold 6,000 shares for $5 per share. Assuming no prior balance in the Additional Paid-in Capital From Treasury Stock Transactions, what is the ending balance in this account following these transactions?
A) $18,000 debit
B) $30,000 debit
C) $18,000 credit
D) $48,000 credit
Answer: C
Explanation: C) The April 1 transaction is a $48,000 credit to the account; the May 1 transaction is a $30,000 debit to the account.
Business
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