Question
Consider the following equity section for Luna Inc: Common Stock $ 52,000 APIC $ 265,000 Treasury Stock $ (4,000) Retained Earnings $ 450,000 Total SE
Consider the following equity section for Luna Inc:
| Common Stock | $ 52,000 |
| APIC | $ 265,000 |
| Treasury Stock | $ (4,000) |
| Retained Earnings | $ 450,000 |
| Total SE | $ 763,000 |
You, as a staff accountant for Luna Inc, were informed that a stock repurchase amounting to $3,000 was never accounted for in the above numbers. Select the account calculated correctly after making this adjustment.
Group of answer choices
A Treasury Stock: $ (1,000)
B APIC: $268,000
C APIC: $262,000
D Treasury Stock: $ (7,000)
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Finance And Accounting For Business
Authors: Bob Ryan
1st Edition
9781861529930
