A Company Reissues 400 Shares of Its Own Common Stock

question 134

Multiple Choice

A company reissues 400 shares of its own common stock for $20 per share.The company had acquired these shares two months before for $15 per share.The reissuance of this stock would be recorded with a:

• A)Credit to Treasury Stock for $8,000
• B)Debit to Additional Paid-In Capital for $2,000
• C)Debit to Common Stock for $8,000
• D)Credit to Additional Paid-In Capital for $2,000

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Definitions:

Vision

The capability to understand the nearby surroundings through light in the visible spectrum that is reflected off of objects in the area.

Neuron

A specialized cell transmitting nerve impulses; a nerve cell.

Feature Detectors

Neurons in the brain that identify specific characteristics of a stimulus, such as angles or movement.

Visual Cortex

The part of the cerebral cortex responsible for processing visual information, located in the back of the brain.