Question
Horton Co. was organized on January 2, 2012, with 500,000 authorized shares of $10 par value ordinary shares. During 2012, Horton had the following capital
Horton Co. was organized on January 2, 2012, with 500,000 authorized shares of $10 par value ordinary shares. During 2012, Horton had the following capital transactions:
January 5issued 375,000 shares at $14 per share.
July 27purchased 25,000 shares at $11 per share.
November 25sold 15,000 shares of treasury shares at $14 per share.
Horton used the cost method to record the purchase of the treasury shares. What would be the balance in the Share PremiumTreasury account at December 31, 2012?
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
