Please Refer to the Following Information for Peartree Company

question 151

Multiple Choice

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 purchases an additional 1,000 shares of treasury stock at $18 per share, what amounts will be shown for the number of shares issued and outstanding?

• A) 100,000 issued; 94,000 outstanding
• B) 99,000 issued; 95,000 outstanding
• C) 100,000 issued; 96,000 outstanding
• D) 101,000 issued; 99,000 outstanding

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Definitions:

Fixated

An obsessive interest or attachment to someone or something.

Aggression

Behavior intended to harm or intimidate others.

Moderately Consistent

Showing a level of regularity or predictability in actions or behavior, but not to an absolute degree.

Humanism

A philosophical stance that emphasizes the value and agency of humans, individually and collectively, and generally prefers critical thinking and evidence over acceptance of dogma or superstition.