Use the following information to answer questions 13 through 15 ABC Corporation submitted the following information in its statement of financial position: Common shares outstanding, 5,000 shares, $ 30 par value per share $ 150,000 Paid-in capital in excess of par value $ 80,000 Earnings retained $ 100,000

13. The company purchased 120 of its own shares to be held as portfolio stock, at a cost of $ 60 per share. If the company uses the cost method, the "Treasury stock" account:

Will be presented as an asset and will have a balance of $ 7,200.

b. It will be presented as an asset and will have a balance of $ 3,600.

c. It will be presented as an equity reduction in the amount of $ 3,600.

d. It will be presented as an equity reduction in the amount of $ 7,200. to.

14. If the company reissues 100 of the 120 shares in the portfolio of the previous question at a price of $ 65 each, it will credit: a. "

Paid-in capital from treasury stock" for $ 500

b. "Gain on sale of treasury stock" for $ 500 Retained earnings of $ 500

d. Retained earnings of $ 6,500 c.

15. Assume that the 100 stocks in the portfolio were reissued at a price of $ 55 each. The company will debit:

a. "Paid-in capital from treasury stock" for $ 500

b. "Loss on sale of treasury stock" for $ 500

c. $ 500 retained earnings

d. Retained earnings of $ 5,500

Utilice la siguiente informacin para contestar las preguntas 13 a la 15 La corporacin ABC present la siguiente informacin en su estado de situacin financiera: Acciones comunes en circulacin, 5,000 acciones, valor par de $30 por accin $150,000 Capital pagado en exceso del valor par $80,000 Ganancias retenidas $100,000 13. La empresa compr 120 de sus propias acciones para ser retenidas como acciones en cartera, a un costo de $60 por accin. Si la empresa utiliza el mtodo de costo, la cuenta "Treasury stock": a. Se presentar como un activo y tendr un balance de $7,200. b. Se presentar como un activo y tendr un balance de $3.600. c. Se presentar como una reduccin del patrimonio por la cantidad de $3,600. d. Se presentar como una reduccin del patrimonio por la cantidad de $7.200. 14. Si la empresa reemite 100 de las 120 acciones en cartera de la pregunta anterior a un precio de $65 cada una, acreditar: a. Paid-in capital from treasury stock" por $500 b. "Gain on sale of treasury stock" por $500 Ganancias retenidas por $500 d. Ganancias retenidas por $6.500 C. 15. Presuma que las 100 acciones en cartera se reemitieron a un precio de $55 cada una. La empresa debitar: a. "Paid-in capital from treasury stock" por $500 b. "Loss on sale of treasury stock" por $500 c. Ganancias retenidas por $500 d. Ganancias retenidas por $5,500