QUESTION 28

Please use the following information for questions 28 and 29

On September 1, 2021 DDD Company purchased 1,000 shares of the common stock, $10 par authorized and issued in transactions from questions 22-24 as treasury stock for $20. What would be the entry to record the shares purchased?

		Debit Common Stock $1,000,000, Credit Cash $1,000,000
		Debit Cash $520,000, Credit Common Stock $520,000
		Debit Treasury Stock $20,000, Credit Cash $20,000
		No entry required

3 points

QUESTION 29

What would be the effect on Stockholder's Equity when the stock is issued?

		increased by $20,000.
		decreased by $20,000.
		decreased by $10,000.
		be unaffected by the event.

3 points

QUESTION 30

What is the number of outstanding shares of common stock that DDD has after the shares are issued in questions 22-24 and purchased in questions 28-29?

		23,000.
		20,000.
		22,000.
		19,000.