Question: Hello. I am stuck on this question. This question is for an ungraded assignment. I am looking for the best answer. Thank You. Tivoli Industrials
Hello. I am stuck on this question. This question is for an ungraded assignment. I am looking for the best answer. Thank You.
Tivoli Industrials Company bought back 100,000 shares of their common stock at a monetary rate of $15 per share. Approximately 3 months later, the company sold off 50,000 of the shares at a rate of $11 per share. Assume that the cost method is being used to keep track of the treasury stock transactions, calculate the Treasury stock account balance after the resale of the 20,000 treasury shares?
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