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Kellogg, Incorporated purchased 200 shares of its own $20 par value stock for $30 cash...

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Accounting

Kellogg, Incorporated purchased 200 shares of its own $20 par value stock for $30 cash per share. Which of the following answers reflects how this purchase of treasury stock would affect Kellogg's financial statements?
Balance Sheet Income Statement Statement of Cash Flows
Assets = Liabilities + Stockholders Equity
Cash + Investment = Accounts Payable + Other Equity Accounts Treasury Stock Revenues Expenses = Net Income
A.(4,000)+ NA = NA + NA 4,000 NA NA = NA (4,000) FA
B.(6,000)+6,000= NA + NA NA NA NA = NA 6,000 IA
C.(6,000)+ NA = NA + NA 6,000 NA NA = NA (6,000) FA
D.(4,000)+4,000= NA + NA NA NA NA = NA 4,000 IA
Multiple Choice
Choice A
Choice B
Choice C
Choice D

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