The Shareholders' Equity Section of Jason Company as of December

question 33

Essay

The shareholders' equity section of Jason Company as of December 31, 2010 follows:
On January 15, the company repurchased 1,500 shares of its own stock at $60 for treasury stock. On January 16, as part of a compensation package, the company reissued half of the treasury shares to executives who exercised stock options for $20 per share. On January 28, the company reissued the remainder of the treasury stock on the open market for $66 per share. Which of the following would be included in the journal entry recorded on January 16?
a. a debit to Cash for $15,000.
b. a debit to Treasury Stock for $45,000.
c. a credit to Additional Paid-In Capital for $45,000.
d. a credit to Additional Paid-In Capital for $15,000.

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Definitions:

Benchmarking

The process of comparing business processes and performance metrics to industry bests and best practices from other companies.

Performance Evaluations

A process used by organizations to assess and review an employee's job performance and productivity over a specific period.

Benchmarking Type

Refers to the various categories of benchmarking such as process, performance, or strategic, used by organizations to compare aspects of their operations against those of other entities to identify best practices.

Strengths and Weaknesses

An assessment of the positive attributes (strengths) and limitations (weaknesses) of an individual or organization, often conducted to inform strategic planning.