Use the Following Information for Questions

question 24

Multiple Choice

Use the following information for questions.
When Oslo Ltd. was organized last year, they issued 100,000 no par value common shares for $ 1,200,000. Earlier this year, the corporation purchased 4,000 of these shares at $ 15 per share, to be held in the treasury, and three months later, sold 2,000 treasury shares at $ 19 per share. There were no other treasury share transactions.
-To record the sale of the 2,000 treasury shares, Oslo should credit

• A) Treasury Shares for $ 38,000.
• B) Treasury Shares for $ 20,000 and Contributed Surplus for $ 18,000.
• C) Treasury Shares for $ 30,000 and Contributed Surplus for $ 8,000.
• D) Treasury Shares for $ 30,000 and Retained Earnings for $ 8,000.

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Definitions:

Relationship of Choice

A connection or bond between individuals that is freely chosen and maintained, contrasted with relationships determined by biological ties or social obligations.

Relational Escalation

The process of increasing intimacy, commitment, or closeness in a relationship, often moving through predictable stages.

Self-Disclosures

The act of revealing personal information about oneself to others, which can play a critical role in building trust and intimacy in relationships.

Power Relationships

The dynamics of control, influence, and authority among individuals or groups in a social or professional context.