Assume That a Company Issued 10,000 Shares for $30/share

question 29

Multiple Choice

Assume that a company issued 10,000 shares for $30/share.What entry would be required to record the repurchase and cancellation of 1,000 shares at $28/share?

• A)Credit to common shares for $28,000
• B)Credit to common shares for $30,000
• C)Credit to contributed surplus for $29,000
• D)Credit to contributed surplus for $2,000

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Definitions:

Hyperthreading

A technology that permits quicker processing of information by enabling a new set of instructions to start executing before the previous set has finished.

Information Processing

The handling, organizing, and manipulation of data by computer systems or the human brain.

Arithmetic Calculations

Mathematical operations involving numbers to perform basic functions such as addition, subtraction, multiplication, and division.

ALU

Arithmetic Logic Unit, a critical component of a CPU that handles all arithmetic and logical operations, including addition, subtraction, and logical comparisons.