On January 1, 2013, Mehrzad Co. Issued 10,000 shares of $1 par stock for total proceeds...

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On January 1, 2013, Mehrzad Co. Issued 10,000 shares of $1 par stock for total proceeds of $50,000. On October 31, 2013 Mehrzad recorded a stock dividend of 8% when the market price of the stock was $8/share. On December 1, 2013, Mehrzad bought 4,000 shares at a price of $7/share. The consequence of this transaction would result in: On December 22, 2013 Mehrzad sold 2000 shares of treasury stock for $9/share. The balance in the Additional Paid-in Capital accoun after this sale would be: $49,600 $44,000 O $46,500 None of the other answers given $40,000 On January 1, 2013, Mehrzad Co. Issued 10,000 shares of $1 par stock for total proceeds of $50,000. On October 31, 2013 Mehrzad recorded a stock dividend of 8% when the market price of the stock was $8/share. On December 1, 2013, Mehrzad bought 4,000 shares at a price of $7/share. The consequence of this transaction would result in: On December 22, 2013 Mehrzad sold 2000 shares of treasury stock for $9/share. The balance in the Additional Paid-in Capital accoun after this sale would be: $49,600 $44,000 O $46,500 None of the other answers given $40,000