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Discuss the stockholders equity section

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Reference no: EM131775879

The stockholders' equity section of Twilight Time's balance sheet on January 1, 2015, appeared as follows:

Common stock, $2 par, 2,000 shares issued and outstanding $4,000
Additional paid-in capital - Common 1,600
Retained earnings    5,400
    Total stockholders' equity $11,000

On March 1, 2015, Twilight reacquired 800 shares of common stock at $10 per share. Twilight sold 400 of the treasury shares on November 15 for $12 per share. The transaction for the November 15 sale would include:

a. an increase in Gain on Sale of Treasury Stock, $800.
b. a decrease in Treasury Stock, $4,000.
c. a decrease in Cash, $4,800.
d. an increase in Common Stock, $4,800.

Reference no: EM131775879

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