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Crane Company started business in 2015 by issuing 180000 shares of $18 par common stock for $25 each. In 2020, 24000 of these shares were
Crane Company started business in 2015 by issuing 180000 shares of $18 par common stock for $25 each. In 2020, 24000 of these shares were purchased for $37 per share by Crane Company and held as treasury stock. On June 15, 2021, these 24000 shares were exchanged for a piece of property that had an assessed value of $750000. Crane's stock is actively traded and had a market price of $43 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 $740000. $209000. O $144000. O $444000
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