Treasury stock represents (check all that apply.)

a. the amount paid for stock reacquired and currently held in treasury
b. stock issued in exchange for treasury bills
c. a contra-equity account
d. the amount paid to acquire us treasury stock

(A) the amount paid for stock reacquired and currently held in treasury, and

(C) a contra-equity account

Explanation:

Treasury stock represents a company's acquisition of its own shares. Thus, in a sense, it means the company will become a part owner of itself, which is frowned at by regulators worldwide. Accordingly, in the computation of stockholder's equity, a company is required to reduce outstanding number of shares by the number of treasury stocks it has acquired (thus representing a contra-equity account due to the deduction).

answer; i believe the answer is 40,600,000;