The data below are from the December 31, 2017, balance sheet of CAREBEAR CO Common stock, P10 par Paid-in capital in excess of par Retained earnings P500,000 150,000 600,000 During 2018, the following transactions affecting corporate capital were recorded: Aug. 01 Sep. 15 Oct. 07 Purchased 6,000 shares of treasury stock at P15 per share Reissued 1,500 treasury shares at P20 per share Reissued 1,500 treasury shares at P13 per share Retired the remaining treasury shares. Nov. 30 The treasury shares are accounted for using the cost method.
The data below are from the December 31, 2017, balance sheet of CAREBEAR CO Common stock, P10 par Paid-in capital in excess of par Retained earnings P500,000 150,000 600,000 During 2018, the following transactions affecting corporate capital were recorded: Aug. 01 Sep. 15 Oct. 07 Purchased 6,000 shares of treasury stock at P15 per share Reissued 1,500 treasury shares at P20 per share Reissued 1,500 treasury shares at P13 per share Retired the remaining treasury shares. Nov. 30 The treasury shares are accounted for using the cost method.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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How much is the balance of common stock after the above transactions?
2. How much is the total share premium of CAREBEAR CO on December 31, 2018?
Transcribed Image Text:The data below are from the December 31, 2017, balance sheet of CAREBEAR CO
Common stock, P10 par
Paid-in capital in excess of par
Retained earnings
P500,000
150,000
600,000
During 2018, the following transactions affecting corporate capital were recorded:
Aug. 01
Sep. 15
Oct. 07
Purchased 6,000 shares of treasury stock at P15 per share
Reissued 1,500 treasury shares at P20 per share
Reissued 1,500 treasury shares at P13 per share
Retired the remaining treasury shares.
Nov. 30
The treasury shares are accounted for using the cost method.
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