The Following Two Items Are Disclosed in the Stockholders' Equity

question 23

Multiple Choice

The following two items are disclosed in the stockholders' equity section of Cort Corporation's December 31, 2010, balance sheet: Treasury stock (500 shares, at cost) $50,000
Additional paid-in capital: treasury stock transactions 22,500
If the company had reacquired 3,000 shares of treasury stock in February of 2010 then some of the treasury stock must have been sold during 2010 for:

• A) $9 per share above its par value.
• B) $9 per share.
• C) $109 per share.
• D) $109 per share above its cost.

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Definitions:

Concurrent Jurisdiction

The situation where two or more courts from different systems simultaneously have jurisdiction over a specific case.

U.S. Courts of Appeals

A group of federal courts that review decisions made by district courts, regulatory agencies, and other federal courts, except the Supreme Court.

Thirteen

The number following twelve and preceding fourteen, often considered unlucky in some cultures.

Seven

A natural number following six and preceding eight, often symbolizing completeness or perfection in various cultures.