Problem 11-24A Analyzing journal entries for treasury stock transactions LO 11-4, 11-5

The following correctly prepared entries without explanations pertain to Corners Corporation:

	Account Title	Debit	Credit
1.	Cash	1,800,000
	Common Stock		1,000,000
	Paid-in Capital in Excess of Par Value		800,000
2.	Treasury Stock	44,800
	Cash		44,800
3.	Cash	38,000
	Treasury Stock		35,200
	Paid-in Capital in Excess of Cost of Treasury Stock		2,800

The original sale (Entry 1) was for 400,000 shares, and the treasury stock was acquired for $8 per share (Entry 2).

PLEASE SHOW ALL WORK

Problem 11-24A Analyzing journal entries for treasury stock transactions LO 11-4,11-5 The following correctly prepared entries without explanations pertain to Corners Corporation Account Title Debit 1,800,000 Credit 1. Cash Common Stock Paid-in Capital in Excess of Par Value 1,000,000 800,000 2. Treasury Stock Cash 44,800 44,800 3. Cash 38,000 Treasury Stochk Paid-in Capital in Excess of Cost of Treasury Stock 35,200 2,800 The original sale (Entry 1) was for 400,000 shares, and the treasury stock was acquired for $8 per share (Entry 2) Required a. What was the sales price per share of the original stock issue? (Round your answer to 2 decimal places.) Sales price per share b. How many shares of stock did the corporation acquire in Entry 2? Corporation acquired shares of stock c. How many shares were reissued in Entry 3? shares hares reissued d. How many shares are outstanding immediately following Entries 2 and 3, respectively? Outstanding Shares Entry 2 Entry 3