The following correctly prepared entries without explanations pertain to Corners Corporation. Event Number 1. 2. 3. Cash Common stock Paid-in capital in excess of par value Treasury stock Cash Cash Req A Account Title Required a. What was the sales price per share of the original stock issue? b. How many shares of stock did the corporation acquire in Entry 2? Complete this question by entering your answers in the tabs below. Treasury stock Paid-in capital in excess of cost of treasury stock The original sale (Entry 1) was for 430,000 shares, and the treasury stock was acquired for $5 per share (Entry 2). c. How many shares were reissued in Entry 3? d. How many shares are outstanding immediately following Entries 2 and 3, respectively? Req B to C Debit 1,290,000 Req D 25,500 22,000 Credit 800,000 490,000 25,500 19,500 2,500 What was the sales price per share of the original stock issue? (Round your answer to 2 decimal places 1
The following correctly prepared entries without explanations pertain to Corners Corporation. Event Number 1. 2. 3. Cash Common stock Paid-in capital in excess of par value Treasury stock Cash Cash Req A Account Title Required a. What was the sales price per share of the original stock issue? b. How many shares of stock did the corporation acquire in Entry 2? Complete this question by entering your answers in the tabs below. Treasury stock Paid-in capital in excess of cost of treasury stock The original sale (Entry 1) was for 430,000 shares, and the treasury stock was acquired for $5 per share (Entry 2). c. How many shares were reissued in Entry 3? d. How many shares are outstanding immediately following Entries 2 and 3, respectively? Req B to C Debit 1,290,000 Req D 25,500 22,000 Credit 800,000 490,000 25,500 19,500 2,500 What was the sales price per share of the original stock issue? (Round your answer to 2 decimal places 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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