**Stockholders' Equity Section of Bacon Inc. as of May 31, 2019****Paid-in Capital:**- **Preferred Stock:** - $120 par value, 5% cumulative - 100,000 shares authorized - 74,000 shares issued and outstanding - Value: $8,880,000 (same for both May 31, 2019, and April 30, 2019)- **Common Stock:** - $6 par value - 600,000 shares authorized - 420,000 shares issued as of April 30, 2019 - The value for May 31, 2019, is not provided (denoted by "?") - Value as of April 30, 2019: $2,400,000**Additional Paid-in Capital:** - May 31, 2019: $14,670,000- April 30, 2019: $14,140,000**Retained Earnings:**- May 31, 2019: $12,070,000- April 30, 2019: $11,794,000**Less: Treasury Common Stock, at Cost; 21,000 shares and 19,500 shares for May 31, 2019, and April 30, 2019, respectively:**- May 31, 2019: ($1,932,000)- April 30, 2019: ($1,872,000)**Total Stockholders' Equity:**- May 31, 2019: Value not provided (denoted by "?")- April 30, 2019: $35,342,000---**Question:**c. What was the average cost per share of the common stock purchased for the treasury during the month?- **Cost per Share:** [Input box]

No. of shares purchased in treasury stock = 21000 - 19500 = 1500 shares. Difference in value of…

Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 April 30, 2019 Paid-in capital: Preferred stock, $120 par value, 5%, cumulative, 100,000 shares authorized, 74,000 shares issued and outstanding Common stock, $6 par value, 600,000 shares authorized, 420,000 and 400,000 shares issued, respectively Additional paid-in capital Retained earnings Less: Treasury common stock, at cost; 21,000 shares and 19,500 shares, respectively $ 8,880,000 $ 8,880,000 2,400,000 14,140,000 11,794,000 ? 14,670,000 12,070,000 (1,932,000) (1,872,000) Total stockholders' equity $35,342,000 . What was the average cost per share of the common stock purchased for the treasury during the month? Cost per share

Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 April 30, 2019 Paid-in capital: Preferred stock, $120 par value, 5%, cumulative, 100,000 shares authorized, 74,000 shares issued and outstanding Common stock, $6 par value, 600,000 shares authorized, 420,000 and 400,000 shares issued, respectively Additional paid-in capital Retained earnings Less: Treasury common stock, at cost; 21,000 shares and 19,500 shares, respectively $ 8,880,000 $ 8,880,000 2,400,000 14,140,000 11,794,000 ? 14,670,000 12,070,000 (1,932,000) (1,872,000) Total stockholders' equity $35,342,000 . What was the average cost per share of the common stock purchased for the treasury during the month? Cost per share

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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