Please Refer to the Following Information for Peartree Company

question 57

True/False

Please refer to the following information for Peartree Company:
• Common stock, $1.00 par, 100,000 issued, 95,000 outstanding
• Paid-in capital in excess of par: $2,150,000
• Retained earnings: $910,000
• Treasury stock: 5,000 shares purchased at $20 per share
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If Peartree resold 800 shares of treasury stock for $15 per share, the total equity of the company would remain unchanged.

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Definitions:

Whistle Blowing

The act of exposing any kind of information or activity that is deemed illegal, unethical, or not correct within an organization.

Ethical Pursuits

Activities or goals that are pursued in alignment with principles of right conduct, often emphasizing integrity and moral behavior.

Manage For Profits

A business strategy focused on increasing efficiency and reducing costs in order to maximize the financial gains of an organization.

Clear-Cut Options

Choices or alternatives that are straightforward, well-defined, and easy to understand or select between.