Neutron Corporation held the following short-term investments in equity securities classified as trading securities:

				Market Price at
		Number	Cost Per	Year-End
	Equity Security	of Shares	Share	2013	2014
	A Common Stock	1,000	$ 100	$ 104	$ 98
	B Common Stock	1,500	50	48	46
	C Common Stock	2,000	?	36	36

The market adjustment account is a net credit of $8,000 at the end of 2014. What was the original cost per share of the C common stock?

• $36
• $26
• None of these
• $30
• $22

American Steel Corp. had following securities at the end of 2015 (no securities were bought or sold during the year):

Fair Value,

Security Classification Cost Dec. 31, 2015

A . . . . . . . . . . . . . . . . . . . . . . Trading $10,000 $12,000

B . . . . . . . . . . . . . . . . . . . . . . Trading 16,000 10,000

C . . . . . . . . . . . . . . . . . . . . . . Available for sale 12,000 15,000

D . . . . . . . . . . . . . . . . . . . . . . Available for sale 20,000 15,000

E . . . . . . . . . . . . . . . . . . . . . . Held to maturity 20,000 22,000

At the beginning of 2015, American Steel had a credit balance in its Market Adjustment Trading Securities' account of $1,000 and a debit balance in its Market Adjustment AFS Securities account of $4,000.

If net income before any adjustments related to investment securities was $100,000, what would be reported net income be after adjustments?

• $93,000
• $97,000
• None of these
• $91,000
• $96,000

The stockholders equity of Thomas Company as of December 31, 2014, was as follows:

Common stock, $1 par, authorized 275,000 shares; 240,000 shares issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 240,000 Paid-in capital in excess of par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,840,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000

On June 1, 2015, Thomas reacquired 15,000 shares of its common stock at $16. The following transactions occurred in 2015 with regard to these shares.

July 1 Sold 5,000 shares at $20.

Aug. 1 Sold 7,000 shares at $15.

Sept. 1 Sold 2,000 shares at $13.

What will be the balance in the Paid-In Capital from Treasury Stock account on 12/31/15?

• $0
• $7,000
• None of these
• $6,000
• $13,000