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Keiras Kites is authorized to issue 250,000 shares of $2 par value common and had 75,000 shares issues and outstanding at Dec 31 st 2019.
Keiras Kites is authorized to issue 250,000 shares of $2 par value common and had 75,000 shares issues and outstanding at Dec 31st 2019. stock. During 2020 Keira took part in the following transactions:
- Issued 40,000 shares of common stock at $50 per share
- Purchased 15,000 shares for the Treasury at $54 per share.
- Resold 4,000 shares of the Treasury Stock at $56 per share
- Resold 5,000 shares of the Treasury stock at $48 per share.
Required:
- Record the entries in the Journal
- What are the Issued Shares at 12/31 20?
- What are the Outstanding Shares?
- What is the Balance in Treasury Stock at 12/31/20?
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