Refer to the Following Information for Tangent Corporation

question 49

Multiple Choice

Refer to the following information for Tangent Corporation:
• Common Stock,$1.00 par,114,000 shares issued,98,000 shares outstanding
• Paid-In Capital in Excess of Par-Common: $2,150,000
• Retained Earnings: $930,000
• Treasury Stock: 10,000 shares purchased at $35 per share
If Tangent resold 1,300 shares of treasury stock for $22.50 per share,which of the following statements would be true?

• A)The Treasury Stock account would decrease by $22,750.
• B)The Paid-In Capital in Excess of Par-Common account would increase by $1,300.
• C)The Treasury Stock account would decrease by $45,500.
• D)The Retained Earnings account would increase by $29,250.

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Definitions:

Heavy Metals

Heavy metals are dense metals that can be toxic to humans and the environment in high concentrations, including lead, mercury, and arsenic.

Mercury Preservative

A substance containing mercury used to prevent the growth of bacteria and fungi in vaccines and other pharmaceutical products; its use has diminished due to health concerns.

Emotion

A state of feeling that has physiological, situational, and cognitive components.

Physiological

Pertaining to the normal functioning and activities of living organisms and their parts.