Business, 11.03.2020 03:04 sampurple123

Vaughn Manufacturing started business in 2012 by issuing 209000 shares of $21 par common stock for $28 each. In 2017, 25500 of these shares were purchased for $40 per share by Vaughn Manufacturing and held as treasury stock. On June 15, 2018, these 25500 shares were exchanged for a piece of property that had an assessed value of $753000. Vaughn’s stock is actively traded and had a market price of $46 on June 15, 2018. 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 beA. $153000.B. $743000.C. $453000.D. $218000.

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Vaughn Manufacturing started business in 2012 by issuing 209000 shares of $21 par common stock for $...

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