Question
A company begins operations on 1/1/22, selling 100,000 shares of common stock (with 500,000 shares authorized). These shares have a par value of $1/share and
A company begins operations on 1/1/22, selling 100,000 shares of common stock (with 500,000 shares authorized). These shares have a par value of $1/share and were originally sold for $5/share. On 3/1/22, the company repurchases 1,000 common shares for $8/share (the company does not formally retire the shares). On 5/1/22, the company resells 500 of those shares for $10/share. On 8/1/22, the company declares and executes a 2-for-1 stock split. On 12/1/22, the company declares a $0.10/share cash dividend. The date of record is 12/31/22 and the payment date is 1/10/23. Net income during 2022 was $200,000 At 12/31/22, the common shares are trading at $7/share.
- What is the balance in common stock at 12/31/22?
- What is the balance in additional paid in capital at 12/31/22?
- What is the balance in treasury stock at 12/31/22?
- What is the balance in retained earnings at 12/31/22?
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