A). Prior to 20X1, the company had 100 shares issued and outstanding. Par value is $1 per share. Provide the journal entry for the issuance of 100 shares of stock in 20X1 for $15 a share.

B). The company issued 200 shares in 20X2 (at the beginning of the year). Provide the journal entry for the issuance of the equity. For this question, assume that no other transactions affected paid-in capital in excess of par that year

c). Suppose that the stock repurchase in 20X2 was the companys first and only repurchase. Provide the journal entry for stock repurchase

D). Now suppose that in 20X3 the companys stock price plummets, and the company reissues the repurchased shares for $8 per share. Provide the journal entry for this transaction (2 points). What effect would this reissue have on the companys net income: increase, decrease, or no effect?

Use the balance sheet information below for Q5 - Q8. Assume that at the end of fiscal 20X2 the company has 500 shares authorized, 400 shares issued and 325 outstanding. (Use the information for the most recent fiscal year unless otherwise noted.) 20X2 20X1 Equity: Common stock 400 200 Paid-in capital in excess of par 2,700 2,350 Treasury stock (1,650) Retained earnings 5,250 4,025 Accumulated other comprehensive income (loss) (150) 365 Total shareholders' equity 6,550 6,940