Barkley's Resort Had 2,800 Shares of $21 Par Value Common

question 91

Multiple Choice

Barkley's Resort had 2,800 shares of $21 par value common stock outstanding. On June 1, Barkley's purchased 230 shares of treasury stock for $29 per share and later reissued them for $26 per share. What amount of profit from the reissuance will be reported on the income statement?

• A) $1,150
• B) $690
• C) $1,840
• D) $0

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