The Shareholders' Equity Section of the Balance Sheet of Caesar

question 43

Multiple Choice

The shareholders' equity section of the balance sheet of Caesar Corporation at December 31, 2009, appears as follows: (The company engaged in no treasury share transactions prior to 2009)



-Refer to the above data. Assume that all remaining treasury share is reissued at a price of $14 per share in January of 2010. What amount should be credited to the account Share Premium: Treasury Share Transactions in the journal entry to record this transaction?

• A) $14,000.
• B) $30,000.
• C) $40,000.
• D) Some other amount.

---

Definitions:

Pressure

The force applied perpendicular to the surface of an object per unit area over which that force is distributed.

Detonator

A device or a small amount of explosive used to trigger an explosive charge or set off another explosive device.

Functional Group

A specific grouping of atoms within molecules that is responsible for the characteristic chemical reactions of those molecules.

Organic Explosives

Explosive materials composed of organic chemicals that produce a detonation or rapid expansion of gases to generate destructive effects.