Coy,Inc ,Initially Issued 200,000 Shares of $1 Par Value Stock

question 30

Multiple Choice

Coy,Inc. ,initially issued 200,000 shares of $1 par value stock for $1,000,000 in 2014.In 2015,the company repurchased 20,000 shares for $200,000.In 2016,10,000 of the repurchased shares were resold for $160,000.In its balance sheet dated December 31,2016,Coy,Inc.'s treasury stock account shows a balance of:

• A)$ 0.
• B)$ 40,000.
• C)$100,000.
• D)$200,000.