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Oriole Company started business in 2015 by issuing 188000 shares of $20 par common stock for $27 each. In 2020, 24800 of these shares were
Oriole Company started business in 2015 by issuing 188000 shares of $20 par common stock for $27 each. In 2020, 24800 of these shares were purchased for $39 per share by Oriole Company and held as treasury stock. On June 15, 2021, these 24800 shares were exchanged for a piece of property that had an assessed value of $757000. Oriole's stock is actively traded and had a market price of $45 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 O $148800. O $747000. 0 $213800. O $448800
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