Business, 11.09.2019 05:30 gaberamos973

Pember corporation started business in 2007 by issuing 200,000 shares of $20 par common stock for $36 each. in 2012, 30,000 of these shares were purchased for $52 per share by pember corporation and held as treasury stock. on june 15, 2013, these 30,000 shares were exchanged for a piece of property that had an assessed value of $810,000. perber's stock is actively traded and had a market price of $60 on june 15, 2013. the cost method is used to account for treasury stock. the amount of paid-in capital from treasury stock transactions resulting from the above events would be
a. $1,200,000. b. $720,000. c. $585,000. d. $240,000.

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Pember corporation started business in 2007 by issuing 200,000 shares of $20 par common stock for $3...

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