The Following Information Was Drawn from the Year-End Balance Sheets

question 61

Multiple Choice

The following information was drawn from the year-end balance sheets of White, Inc.White, Inc. uses the cost method to account for treasury stock. No treasury stock was sold during the year. What is the amount of cash outflows for the purchase of treasury stock? $$\begin{array} { | l | r | r | } \hline & 2014 & 2013 \\\hline \text { Bonds payable } & \$ 200,000 & \$ 275,000 \\\hline \text { Common stock } & 112,500 & 87,500 \\\hline \text { Treasury stock } & 17,500 & 12,500 \\\hline \text { Retained earnings } & 35,000 & 27,500 \\\hline\end{array}$$

• A)$7,500
• B)$17,500
• C)$25,000
• D)None of these answers is correct.

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Definitions:

Disjunctive Premise

A part of a logical argument that presents two or more mutually exclusive options or possibilities.

Negative Proposition

A statement that asserts the non-existence or exclusion of something.

Disjunctive Proposition

A logical statement that presents two or more alternatives, where the truth of any one alternative makes the proposition true.

Categorical Proposition

A proclamation that either affirms or contradicts something concerning all elements of a particular class.