Red Company bought back 51,000 shares of its own common stock at $12 per share. Four months

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Red Company bought back 51,000 shares of its own common stock at $12 per share. Four months later the Red Company sold 31,000 of these shares at $16 per share. If the cost method is used to record treasury stock transactions, what is the balance of the Paid-in Capital from Treasury Stock account (assume its beginning balance is zero) after the resale of the 31,000 treasury shares?

Posted Date: Jul 10, 2024 06:19 AM

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Red Company bought back 51,000 shares of its own common stock at $12 per share. Four months

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