Refer to the Following Information for Tolan Corporation: • Common

question 230

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:

Analgesic Drugs

Drugs that decrease the perception of pain.

Massage

A therapeutic technique involving the manipulation of the body's muscles and tissues to relieve stress, pain, and tension.

Alternative Medical Systems

Health care practices and products not traditionally recognized by mainstream medicine, such as acupuncture and homeopathy.

Psychological Factors

Refer to mental and emotional aspects that influence an individual's behavior and wellbeing.