The following picture is correctly prepared entries without explanations that pertain to Corners Corporation: The original sale (Entry 1) was for 540,000 shares, and the treasury stock was acquired for $4 per share (Entry 2). 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? c. How many shares were reissued in Entry 3? d. How many shares are outstanding immediately following Entries

The following picture is correctly prepared entries without explanations that pertain to Corners Corporation: The original sale (Entry 1) was for 540,000 shares, and the treasury stock was acquired for $4 per share (Entry 2). 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? c. How many shares were reissued in Entry 3? d. How many shares are outstanding immediately following Entries

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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Subject: accounting
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0 Required information [The following information applies to the questions displayed below.] a. On March 22, purchased 700 shares of RPI Company stock at $22 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 350 shares of RPI stock for $32 per share. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including+ or -) for each transaction. k Assets Liabilities + a. 8 CO M I K ( 9 ; I option { [ ? I Equity + 11 "1 C } ] Save & Ext Check delete
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Please answer A and B