The Following Data Has Been Collected About Keller Company's Stockholders

question 215

Multiple Choice

The following data has been collected about Keller Company's stockholders' equity accounts:
$\begin{array}{ll}\text {Common stock \( \$ 10 \) par value 20,000 shares }&\$100,000\\\text {authorized and 10,000 shares issued, 9,000 shares outstanding}&0\\\text { Paid-in capital in excess of par value, common stock } & 50,000 \\\text { Retained earnings } & 25,000 \\\text { Treasury stock } & 11,500\end{array}$


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Assuming the treasury shares were all purchased at the same price,the number of shares of treasury stock is:

• A) 1,150.
• B) 1,000.
• C) 575.
• D) 11,000.
• E) 21,000.

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Definitions:

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Date of Transition

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IFRS 1

The International Financial Reporting Standard that provides guidelines for the first time adoption of International Financial Reporting Standards.

Opening Balance Sheet

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