A Company Purchases 800 Shares of Its $50 Par Value

question 20

Multiple Choice

A company purchases 800 shares of its $50 par value common stock at $55 per share.It then reissues 120 shares at $58 per share.The entry upon reissue of the stock is :

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Definitions:

Financial Management

The practice of managing a firm's financial operations to achieve financial goals and profitability.

CFO

Chief Financial Officer, the senior executive responsible for managing the financial actions of a company.

Purely Cash Compensation

Payment made in the form of physical currency or through direct deposit to a bank account, without any non-cash benefits.

Company Takeover

The acquisition of one company by another, where the acquiring company assumes control of the target company.