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?

NONE

Explanation:

The treasury stock sales increase additional paid-in capital treasury stock. It do not generate net income the stokc are part of equity transactions. They cannot generate a gain, the differnece in value betwene cost and reissuance of the shares will be adjusted against additional paid-in capital Treasu Stock as state before.

answer; enforce the rules;

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(b) management: leadership