Assume that Treasury Stock transactions are recorded using the cost method. Retained earnings has a balance of $450,000 in it. (a) Issued 30,000 shares of 9%, $20 par Preferred Stock at $26 each share. (b) Issued 50,000 shares of $3 par value Common Stock at $33 each share. (c) Re-purchased 4,000 shares of its outstanding Preferred Stock at $28 each share. (d) Re-Purchased 6,000 share
Assume that
(a) Issued 30,000 shares of 9%, $20 par
(b) Issued 50,000 shares of $3 par value Common Stock at $33 each share.
(c) Re-purchased 4,000 shares of its outstanding Preferred Stock at $28 each share.
(d) Re-Purchased 6,000 shares of its outstanding Common Stock at $35 each share.
(e) Re-issued 1,000 shares of its Common Treasury Stock at $37 each share.
(f) Re-issued 500 shares of its Common Treasury Stock at $32 per share.
(g) Re-issued 1,200 shares of its Preferred Treasury Stock at $32 per share.
(h) Re-issued 620 shares of Preferred Treasury Stock at $20 each share.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
