Smithville Processing has 2,000,000 shares of $4 Par Common stock authorized. Bakersfield has issued some of these shares and is showing $1,600,000 in its Common Stock account and $3,600,000 in its Additional Paid-in Capital account. How many shares of Angus stock have been issued?

A. 400,000

B. 900,000

C. 1,300,000

D. The number of shares cannot be determined using the information provided.

At the beginning of 2020, Chemical Cleaning Solutions had 18,000 shares of $4 Par value common stock outstanding that were issued at $28 a share. In June, Chemical Cleaning Solutions issued an additional 4,000 shares of common stock for $30 a share. A total of 63,000 shares were authorized. On September 23, Chemical Cleaning Solutions purchased 400 shares of treasury stock at $27 a share. Which of the following would be included in the purchase of treasury stock?

A. Debit Treasury Stock for $10,800

B. Credit Treasury Stock for $10,800

C. Credit Cash for $1,600

D. Credit Additional Paid-In Capital for $9,200