1. assume that a company paid $10 per share to purchase 1,400 shares of its $3 per common stock as treasury stock. The purchased of treasury stock

A. increased total equity by $14,000

B. increased total equity by $4,200

C. decreased total equity by $4,200

D. decreased total equity by $14,000

2. which of the following investments is most likely classified as a held to maturity debt investment?

A. 80% stock ownership in a subsidiary

B. 100% ownership in voting stock of a supplier

C. 10 year bonds

D. none of the above

3. Logan park Antiques issued its 8%, 20 year bonds payable at a price of $126,840 (face value is $200,000). The company uses a straight line amortization method for the bond discount or premium. interest expected for each year is

(wrong your answer to the nearest whole dollar)

A. $16,000

B. $10,147

C. $19,658

D. $12,342