Question
Bramble Corp. started business in 2015 by issuing 181000 shares of $ 22 par common stock for $ 29 each. In 2020, 24500 of these
Bramble Corp. started business in 2015 by issuing 181000 shares of $ 22 par common stock for $ 29 each. In 2020, 24500 of these shares were purchased for $ 41 per share by Bramble Corp. and held as treasury stock. On June 15, 2021, these 24500 shares were exchanged for a piece of property that had an assessed value of $ 767000. Brambles stock is actively traded and had a market price of $ 47 on June 15, 2021. The cost method is used to account for treasury stock. The amount of paid-in capital from treasury stock transactions resulting from the above events would be $ 147000. $ 447000. $ 757000. $ 212000.
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