Refer to the Following Information for Tolan Corporation: • Common

question 23

Multiple Choice

Refer to the following information for Tolan Corporation: • Common Stock, $1.00 par, 106,000 shares issued, 100,000 shares outstanding
• Paid-In Capital in Excess of Par-Common: $2,190,000
• Retained Earnings: $920,000
• Treasury Stock: 6000 shares purchased at $21 per share
If Tolan resold 2500 shares of treasury stock for $22.50 per share, which of the following statements would be true?

• A) The Treasury Stock account would decrease by $26,250.
• B) The Paid-In Capital in Excess of Par-Common account would increase by $2500.
• C) The Treasury Stock account would decrease by $52,500.
• D) The Retained Earnings account would increase by $56,250.

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Definitions:

Core Values

Core values are the fundamental beliefs or guiding principles that dictate behavior and action, helping individuals and organizations to determine what is important and meaningful.

Chinese Culture

Chinese culture is a rich tapestry of traditions, beliefs, and practices evolved over thousands of years in China, encompassing elements like art, cuisine, festivals, and philosophy.

Mutual Dependence

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Core Value Studies

The examination of fundamental beliefs or principles that are shared by members of a group, society, or organization.