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On January 1, 2020, Agassi Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 50,000 shares issued and outstanding) $500,000 Paid-in Capital
On January 1, 2020, Agassi Corporation had the following stockholders equity accounts.
Common Stock ($10 par value, 50,000 shares issued and outstanding) | $500,000 | ||
Paid-in Capital in Excess of ParCommon Stock | 495,000 | ||
Retained Earnings | 635,000 |
During 2020, the following transactions occurred.
Jan. 15 | Declared and paid a $1.05 cash dividend per share to stockholders. | ||
Apr. 15 | Declared and paid a 10% stock dividend. The market price of the stock was $13 per share. | ||
May 15 | Reacquired 2,200 common shares at a market price of $15 per share. | ||
Nov. 15 | Reissued 1,100 shares held in treasury at a price of $19 per share. | ||
Dec. 31 | Determined that net income for the year was $360,000. |
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