Question

Barkley’s Resort had 2,000 shares of $20 par value common stock outstanding. On June 1, Barkley’s purchased 200 shares of treasury stock at $21 per share and later reissued them for $22 per share. Which amount of profit from the reissuance will be reported on the income statement?
A. $400
B. $200
C. $100
D. $0

Answer 1

D.

Answer 2

$0

Answer 3

@robby8974 how do u know?

Answer 4

because i helped my sister with the same question a couple days ago

Answer 5

Outstanding: remaining
Income: Earnings

No profit is made because the outstanding amount has to be paid off, thus it is 0.

Answer 6

@Albert0898 (: thank you

Answer 7

pretty much what i said

Answer 8

@robby8974 im sorryyyyyy

Answer 9

its fine been happening all day

Answer 10

@robby8974 maybe you need a picture itll make you seem more friendly...

Answer 11

ok