Coy inc. initially issued 200000 shares of 1 par value, Ask an Expert

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Coy, Inc. initially issued 200,000 shares of $1 par value stock for $1,000,000 in 2009. In 2010, the company repurchased 20,000 shares for $200,000. In 2011, 10,000 of the repurchased shares were resold for $160,000. In its balance sheet dated December 31, 2011, Coy, Inc.'s treasury stock account shows a balance of:

A. $0.

B. $40,000.

C. $100,000.

D. $200,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
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