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The company began business on January 1M. It's Balance Sheet on December 31 contained the Shareholder's Equity as follows: Shareholder's Equity Colgate Palmolive corp. Common
The company began business on January 1M. It's Balance Sheet on December 31" contained the Shareholder's Equity as follows: Shareholder's Equity Colgate Palmolive corp. Common Stock (10 par value) 30.000 Additional paid in capital 15.720 Retained earnings 6.000 Less 180 shares held in treasury -3.600 Total Shareholder's Equity 48.120 During the year Colgate engaged in the following capital stock transactions a) Issued shares for 15 each. b) Acquired 300 shares for the treasury in a single transaction c) Reissued some of the treasury shares. Assume that those were all of the common stock transactions during the year. 1.- How many shares did Colgate issued for 15? (3 points) 2- What was the price at which it acquired the treasury shares? (3 points) 3.-How many shares did it reissue from the stock of treasury shares? (3 points) 4. What was the price at which it reissued the treasury shares ? (12 points) 5.- What journal entries did it make during the year? (16 points)
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