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Sakura Co. was established on January 1, 2011. On January 1, 2011, Sakura issued 100, 000 common shares for $500,000. The par value of each share is $1. On July 15, Sakura purchased back 2, 000 of its own common shares at $6 each. On December 31, 2011, the

Sakura Co. was established on January 1, 2011. On January 1, 2011, Sakura issued 100, 000 common shares for $500,000. The par value of each share is $1. On July 15, Sakura purchased back 2, 000 of its own common shares at $6 each. On December 31, 2011, the

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Sakura Co. was established on January 1, 2011. On January 1, 2011, Sakura issued 100, 000 common shares for $500,000. The par value of each share is $1. On July 15, Sakura purchased back 2,000 of its own common shares at $6 each. On December 31, 2011, the stock market price of Sakura's common shares was $9 each. What is the balance of Sakura's common stock account on Dec 31, 2011?
Transcribed Image Text:Sakura Co. was established on January 1, 2011. On January 1, 2011, Sakura issued 100, 000 common shares for $500,000. The par value of each share is $1. On July 15, Sakura purchased back 2,000 of its own common shares at $6 each. On December 31, 2011, the stock market price of Sakura's common shares was $9 each. What is the balance of Sakura's common stock account on Dec 31, 2011?
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