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On February 1, 2015, Lord Bolton reacquired 40,000 of its $10 par common shares for...

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Accounting

On February 1, 2015, Lord Bolton reacquired 40,000 of its $10 par common shares for $12 per share. On June 30, 2015, Bolton reacquired an additional 20,000 shares for $14 per share. On November 15, 2015, all treasury stock was reissued at $16 per share. The December 31, 2015 balance of Additional Paid-in Capital -Treasury Stock was:

A.

$120,000
B.

$1,680,000
C.

$200,000
D.

$400,000
E.

$60,000

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