Multiple Choice
CGJ Company has provided the following:
200,000 shares of $5 par value common stock are authorized;
140,000 shares of common stock were issued for $11 per share;
130,000 shares are outstanding.
Which of the following statements is false?
A) Common stock is reported at $700,000 on the balance sheet.
B) Additional-paid in capital is reported at $840,000 on the balance sheet.
C) Stockholders' equity decreased $110,000 when the treasury stock was purchased.
D) There are 10,000 shares of treasury stock.
Correct Answer:

Verified
Correct Answer:
Verified
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