Barkley's Resort Had 2,000 Shares of $20 Par Value Common

question 47

Multiple Choice

Barkley's Resort had 2,000 shares of $20 par value common stock outstanding.On June 1,Barkley's purchased 200 shares of treasury stock for $21 per share and later reissued them for $22 per share.What amount of profit from the re-issuance will be reported on the income statement?

• A)$400
• B)$200
• C)$100
• D)$0

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Definitions:

Two-Step Flow

A communication model suggesting that information from the media moves in two distinct stages: first to "opinion leaders," then to a wider population.

Communication

The act or process of using words, sounds, signs, or behaviors to express or exchange information or to express ideas, thoughts, feelings, etc., to someone else.

Printing Press

A mechanical device invented by Johannes Gutenberg in the 15th century for printing text on paper, significantly revolutionizing the spread of information.

Media Conglomerates

Large corporations that own a diverse range of media entities across various segments of the media industry, including television, radio, publishing, and the internet.