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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