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How much should be reported in the treasury stock

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Reference no: EM131775854

The Stockholders' Equity section of Taco Reef, Inc.'s balance sheet on January 1, 2015, appeared as follows:

Common stock, $30 par, 20,000 shares issued and outstanding $600,000
Additional paid-in capital--Common 240,000
Retained earnings     700,000
Total stockholders' equity $1,540,000

On March 1, 2015, Taco Reef reacquired 4,000 shares of common stock at $50 per share. All common shares were originally sold for $42 each. How much should be reported in the treasury stock account on the March 31, 2015 balance sheet?

Reference no: EM131775854

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