If a corporation reacquires its own stock, the stock is listed on the balance sheet in the:

A. Current Assets section.

B. Long-Term Liabilities section.

C. Stockholders’ Equity section.

D. Investments section.

Chapter 11 • Corporations: Organization, Capital Stock Transactions, and Dividends 463 A corporation has issued 25,000 shares of $100 par A. $22,000 common stock and holds 3,000 of these shares as B. $25,000 treasury stock. If the corporation declares a $2 per share cash dividend, what amount will be recorded as cash dividends?

C. $44,000 D. $50,000 AppendixLO1