Please Refer to the Following Information for Peartree Company

question 163

Multiple Choice

Please refer to the following information for Peartree Company: If Peartree resold 1,000 shares of treasury stock for $24 per share, which of the following statements would be TRUE?

• A)The Treasury stock account would go down by $20,000.
• B)The Paid-in capital account would not be affected.
• C)The Treasury stock account would go up by $24,000.
• D)The Paid-in capital account would go down by $4,000.