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Question . Copper, Inc. initially issued 100,000 shares of $1 par value stock for $500,000 in 2013. In 2015, the company repurchased 10,000 shares for $100,000. In 2016, 5,000 of the repurchased shares were resold for $80,000. In its balance sheet dated December 31, 2016, Copper, Inc.’s Treasury Stock account shows a balance of: A. $0 B. $20,000 C. $100,000 D. $50,000

/in /by

Question

. Copper, Inc. initially issued 100,000 shares of $1 par value stock for
$500,000 in 2013. In

2015, the company repurchased 10,000 shares for $100,000.

In 2016, 5,000 of the repurchased shares were resold for $80,000. In its balance

sheet dated December 31, 2016, Copper, Inc.’s Treasury Stock account shows a

balance of:

A. $0

B. $20,000

C. $100,000

D. $50,000

 
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