The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given below: Common stock, $4.50 par value Paid-in capital - common stock Retained earnings $135,000 $102,000 $ 89,000 XYZ Company entered into the following transactions during 2031: a. Re-acquired 8,700 shares of its common stock by paying $5.10 per share. o. Re-issued 1,200 of the shares that were re-acquired in (a) for $7.60 per share. c. Re-issued 1,900 of the shares that were re-acquired in (a) for $3.50 per share. d. Re-issued 1,300 of the shares that were re-acquired in (a) for $4.70 per share. e. Re-issued 1,400 of the shares that were re-acquired in (a) for $5.30 per share.
The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given below: Common stock, $4.50 par value Paid-in capital - common stock Retained earnings $135,000 $102,000 $ 89,000 XYZ Company entered into the following transactions during 2031: a. Re-acquired 8,700 shares of its common stock by paying $5.10 per share. o. Re-issued 1,200 of the shares that were re-acquired in (a) for $7.60 per share. c. Re-issued 1,900 of the shares that were re-acquired in (a) for $3.50 per share. d. Re-issued 1,300 of the shares that were re-acquired in (a) for $4.70 per share. e. Re-issued 1,400 of the shares that were re-acquired in (a) for $5.30 per share.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The stockholders' equity section of the January 1, 2031
balance sheet for XYZ Company is given below:
Common stock, $4.50 par value
Paid-in capital - common stock
Retained earnings
$135,000
$102,000
$ 89,000
XYZ Company entered into the following transactions during
2031:
a. Re-acquired 8,700 shares of its common stock by paying
$5.10 per share.
b. Re-issued 1,200 of the shares that were re-acquired in
(a) for $7.60 per share.
c. Re-issued 1,900 of the shares that were re-acquired in
(a) for $3.50 per share.
d. Re-issued 1,300 of the shares that were re-acquired in
(a) for $4.70 per share.
e. Re-issued 1,400 of the shares that were re-acquired in
(a) for $5.30 per share.
Calculate the balance in the retained earnings account after
all five transactions above are recorded.
88,440
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