C Worthy Ships Initially Issued 300,000 Shares of $1 Par

question 132

Multiple Choice

C. Worthy Ships initially issued 300,000 shares of $1 par stock for $1,500,000 in 2018. In 2020, the company repurchased 30,000 shares for $300,000. In 2021, 15,000 of the repurchased shares were resold for $240,000. In its balance sheet dated December 31, 2021, C. Worthy's treasury stock account shows a balance of:

• A) $ 0
• B) $ 60,000
• C) $150,000
• D) $300,000

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Definitions:

Days

Units of time consisting of 24 hours, often used to specify timeframes or durations.

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Numerical data detailing a company's financial status, operations, and liquidity, utilized for evaluation and decision-making purposes.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health and operational efficiency of the company.

Financial Data

Numeric information related to financial aspects of a business, including income, expenses, assets, and liabilities.