Use the Following Information to Answer the Question Below

question 164

Multiple Choice

Use the following information to answer the question below. On January 1,2010,Falcon Corporation had 40,000 shares of $10 par value common stock issued and outstanding.All 40,000 shares had been issued in a prior period at $17 per share.On February 1,2010,Falcon purchased 6,100 shares of treasury stock for $19 per share and later sold the treasury shares for $26 per share on March 2,2010.
What amount of gain due to these treasury stock transactions should be reported on the income statement for the year ended December 31,2010?

• A) $0
• B) $42,700
• C) $6,100
• D) $4,270

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Definitions:

Health, Safety

Policies and practices designed to protect individuals from illness and injury in various environments, including workplaces and public spaces.

Education, Family Relationships

The study of how educational attainment, processes, and environments affect family dynamics and relationships.

Foster Care

A system in which a minor has been placed into a ward, group home, or private home of a state-certified caregiver, referred to as a "foster parent".

Behavioral Problems

Actions or attitudes displayed by individuals, often children, that are inappropriate or challenging for others to manage.