Question
Parrot Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 7.5 percent, $1 par value, 560,000 shares
Parrot Corporation began operations in January of the current year. The charter authorized the following stock:
Preferred stock: 7.5 percent, $1 par value, 560,000 shares authorized
Common stock: $0.01 par value, 1,260,000 shares authorized
During the current year, the following transactions occurred in the order given:
a. Issued 29,000 shares of common stock for $7.20 per share.
b. Sold 43,000 shares of the preferred stock at $5.60 per share.
c. Sold 22,000 shares of the preferred stock at $5.80 per share and 48,000 shares of common stock at $10.00 per share.
d. Repurchased 22,750 shares of the previously issued common shares at $14.20 per share.
e. Resold 4,500 of the shares of the repurchased stock at $16.25 per share.
f. Resold (P} of the shares of the repurchased stock at $12.35 per share.
What is the net amount of the increase to treasury stock on the firm's Balance Sheet from the total of these transactions?
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P is not given in this example, that is what i was struggling with
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