Refer to the Following Information for Tangent Corporation: • Common

question 164

Multiple Choice

Refer to the following information for Tangent Corporation: • Common Stock,$1.00 par,108,000 shares issued,99,000 shares outstanding
• Paid-In Capital in Excess of Par-Common: $2,330,000
• Retained Earnings: $910,000
• Treasury Stock: 11,000 shares purchased at $33 per share
If Tangent resold 1,300 shares of treasury stock for $23.00 per share,which of the following statements would be true?

• A)The Treasury Stock account would decrease by $21,450.
• B)The Paid-In Capital in Excess of Par-Common account would increase by $1,300.
• C)The Treasury Stock account would decrease by $42,900.
• D)The Retained Earnings account would increase by $29,900.

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Definitions:

Central Nervous System (CNS) Stimulant

A class of drugs that increase brain activity, leading to increased alertness, attention, and energy.

Sertraline

An antidepressant medication belonging to the Selective Serotonin Reuptake Inhibitor (SSRI) class, used to treat depression, anxiety disorders, and other mental health conditions.

Slow-Wave Sleep

A deep sleep stage, characterized by slow brain waves, that is important for physical and mental restoration.

REM Sleep

A stage of sleep characterized by rapid movement of the eyes, low muscle tone throughout the body, and the propensity of the sleeper to dream vividly.