The Following Data Has Been Collected About Keller Company's Stockholders

question 101

Multiple Choice

The following data has been collected about Keller Company's stockholders' equity accounts: $\begin{array}{lr}\text { Common stock } \$ 10 \text { par value } 20,000 \text { shares } & \$ 100,000\\\text { authorized and } 10,000 \text { shares issued, } 9,000 \text { shares outstanding }\\\text { Paid-in capital in excess of par value, common stock } & 50,000 \\\text { Retained earnings } & 25,000 \\\text { Treasury stock } & 11,500\end{array}$ Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is:

• A)$1.28.
• B)$10.50.
• C)$10.00.
• D)$11.50.
• E)$1.15.

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Definitions:

Decimal Places

The positions of numbers to the right of the decimal point in a decimal number.

Rate

The specified frequency at which an event occurs or a quantity changes over time or per unit.

Decimal Places

The number of digits to the right of the decimal point in a number, indicating its precision.

Percents

A mathematical expression, indicating a part of a whole as so many hundredths.