Barkley's Resort Had 2,000 Shares of $20 Par Value Common

question 47

Multiple Choice

Barkley's Resort had 2,000 shares of $20 par value common stock outstanding.On June 1,Barkley's purchased 200 shares of treasury stock for $21 per share and later reissued them for $22 per share.What amount of profit from the re-issuance will be reported on the income statement?

• A)$400
• B)$200
• C)$100
• D)$0

---

Definitions:

Tension

A mental or emotional strain caused by stressful circumstances, or the physical force exerted when objects are pulled together or stretched.

PET Scan

A diagnostic imaging test using a radioactive substance to visualize and measure the metabolic activity of tissues.

Alzheimer's

A progressive neurological disorder that leads to memory loss, cognitive decline, and ultimately loss of ability to carry out daily activities, due to brain cell death.

Parkinson's

A progressive neurological disorder that affects movement, causing symptoms such as trembling, stiffness, and balance problems.