Business, 02.08.2019 18:30 alott1121

Porter co. began its business last year and issued 10,000 shares of common stock at $3 per share. the par value of the stock is $1 per share. during january of the current year, porter bought back 500 shares at $6 per share, which were reported by porter as treasury stock. the treasury stock shares were reissued later in the current year at $10 per share. porter used the cost method to account for its equity transactions. what amount should porter report as paid-in capital related to its treasury stock transactions on its balance sheet for the current year?
a. $ 4,500
b. $ 2,000
c. $ 1,500
d. $20,000

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Porter co. began its business last year and issued 10,000 shares of common stock at $3 per share. th...

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