An investor purchased 690 shares of common stock, $21 par, for $29,670. Subsequently, 102 shares were sold for $27 per share. What is the amount of gain or loss on thesale?O a $1,632 gainO b. $1,632 lossO c. $2,244 gainOd. $2,244 loss

The treasury stock includes the own shares of the company purchased from the sale of treasury…

Answered: An investor purchased 690 shares of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Llewelyn Company purchased 1,800 shares of its own $6 par value common stock when the market price of the stock was $21 per share. Which of the following journal entries would be used to record 6. the purchase of treasury stock? Multiple Choice Treasury stock Paid-in capital in excess of par - Common 10,800 10,800 Treasury stock 37,800 Cash 37,800 Treasury stock 37,800 Common stock 10,800 Paid-in capital in excess of par - Common 27,000 Cash 37,800 Treasury stock 10,800 Paid-in capital in excess of par Common 27,000
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0 Required information [The following information applies to the questions displayed below.] a. On March 22, purchased 700 shares of RPI Company stock at $22 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 350 shares of RPI stock for $32 per share. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including+ or -) for each transaction. k Assets Liabilities + a. 8 CO M I K ( 9 ; I option { [ ? I Equity + 11 "1 C } ] Save & Ext Check delete
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An investor purchased 690 shares of common stock, $21 par, for $29,670. Subsequently, 102 shares were sold for sale? O a. $1,632 gain Ob. $1,632 loss O c. $2,244 gain Od. $2,244 loss