20. HH Co. was organized on January 2, 2019, with 500,000 authorized shares of £10 par value ordinary shares. During 2019, HH had the following capital transactions:
January 5—issued 375,000 shares at £14 per share.
July 27—purchased 25,000 shares at £11 per share.
November 25—sold 20,000 shares of treasury shares at £13 per share.
HH used the cost method to record the purchase of the treasury shares. What would be the balance in the Share Premium—Treasury account at December 31, 2019?
(A) £40,000.
(B)£60,000.
(C) £20,000.
(D)£0.
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