Question
Caradonna Company has 100,000 shares of $5 par common stock issued and outstanding as of January 1, 2015. The shares were originally issued for $22
Caradonna Company has 100,000 shares of $5 par common stock issued and outstanding as of January 1, 2015. The shares were originally issued for $22 per share. On February 3, 2015, Caradonna repurchased 5,000 shares at $19 per share for the purposes of retiring them. On April 10, 2015, Caradonna repurchased an additional 2,000 shares at $25 per share. No other transactions involving common stock occurred during the year. What will be the balance in additional paid in capital from retired stock as a result of those transactions?
a. $0 b. $9,000 c. $15,000 d. $21,000
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