The Worman Company began business on January 1. Its balance sheet on December 31 contains the stockholders' equity section shown below.

During the year, Worman Company engaged in the following capital stock transactions:
(1) Issued shares for \(\$ 30\) each.
(2) Acquired a block of 1,000 shares for the treasury in a single transaction.
(3) Reissued some of the treasury shares.
Assuming that these were the only capital stock transactions during the year, answer the following questions:
a How many shares were issued for \(\$ 30\) each?
b What was the price at which the treasury shares were acquired?
c How many shares were reissued from the block of treasury shares?
d What was the price at which the treasury shares were reissued?
e What journal entries must have been made during the year?

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Worman Company Stockholders' Equity as of December 31 Capital Stock ($5 par value). 50,000 Additional Paid-in Capital.. 252,800 Retained Earnings 25,000 Less: 600 Shares Held in Treasury (16,800) Total Stockholders' Equity $311,000