Question
TB MC Qu. 18-81 (Algo) C. Worthy Ships initially issued... C. Worthy Ships initially issued 440,000 shares of $1 par stock for $2,200,000 in 2021.
TB MC Qu. 18-81 (Algo) C. Worthy Ships initially issued...
C. Worthy Ships initially issued 440,000 shares of $1 par stock for $2,200,000 in 2021. In 2023, the company repurchased 44,000 shares for $440,000. In 2024, 22,000 of the repurchased shares were resold for $352,000. In its balance sheet dated December 31, 2024, C. Worthy's treasury stock account shows a balance of:
Multiple Choice
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$0
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$88,000
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$220,000
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$440,000
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Contemporary Auditing
Authors: Michael C Knapp
12th Edition
357515404, 978-0357515402
