Assume that Treasury Stock transactions are recorded using the cost method. Retained earnings has a balance of $500,000 in it. (a) Issued 30,000 shares of 10%, $15 par Preferred Stock at $25 each share. (b) Issued 50,000 shares of $4 par value Common Stock at $43 each share. (c) Re-purchased 5,000 shares of its outstanding Preferred Stock at $38 each share. (d) Re-Purchased 8,000 shares of its outstanding Common Stock at $30 each share. (e) Re-issued 1,000 shares of its Common Treasury Stock at $37 each share. (f) Re-issued 500 shares of its Common Treasury Stock at $32 per share. (g) Re-issued 1,200 shares of its Preferred Treasury Stock at $30 per share. (h) Re-issued 620 shares of Preferred Treasury Stock at $20 each share
Assume that
(a) Issued 30,000 shares of 10%, $15 par
(b) Issued 50,000 shares of $4 par value Common Stock at $43 each share.
(c) Re-purchased 5,000 shares of its outstanding Preferred Stock at $38 each share.
(d) Re-Purchased 8,000 shares of its outstanding Common Stock at $30 each share.
(e) Re-issued 1,000 shares of its Common Treasury Stock at $37 each share.
(f) Re-issued 500 shares of its Common Treasury Stock at $32 per share.
(g) Re-issued 1,200 shares of its Preferred Treasury Stock at $30 per share.
(h) Re-issued 620 shares of Preferred Treasury Stock at $20 each share
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