The following items were shown on the balance sheet of Easton Corporation on December 31, 2018: Stockholders' equity Paid-in capital Capital stock Common stock, $10 par value, 400,000 shares authorized; shares issued and outstanding. .$1,850,000 Additional paid-in capital In excess of par. 165,000 Total paid-in capital... 2,015,000 Retained earnings.. 750,000 Total paid-in capital and retained earnings. 2,765,000 270,000 Less: Treasury stock (18,000 shares). Total stockholders' equity... $2,495,000 Instructions Complete the following statements and show your computations. a) The number of shares of common stock issued was b) The number of shares of common stock outstanding was The common stock was issued for a total of S d) The cost per share of the treasury stock was $ e) The average issue price of the common stock was S f) Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be $.

The following items were shown on the balance sheet of Easton Corporation on December 31, 2018: Stockholders' equity Paid-in capital Capital stock Common stock, $10 par value, 400,000 shares authorized; shares issued and outstanding. .$1,850,000 Additional paid-in capital In excess of par. 165,000 Total paid-in capital... 2,015,000 Retained earnings.. 750,000 Total paid-in capital and retained earnings. 2,765,000 270,000 Less: Treasury stock (18,000 shares). Total stockholders' equity... $2,495,000 Instructions Complete the following statements and show your computations. a) The number of shares of common stock issued was b) The number of shares of common stock outstanding was The common stock was issued for a total of S d) The cost per share of the treasury stock was $ e) The average issue price of the common stock was S f) Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be $.

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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