Question
The following items were shown on the balance sheet of Easton Corporation on December 31, 2021: Stockholders Equity Paid-In Capital Capital Stock Common stock, $10
The following items were shown on the balance sheet of Easton Corporation on December 31, 2021:
Stockholders Equity | ||||||||||
Paid-In Capital | ||||||||||
Capital Stock | ||||||||||
Common stock, $10 par value, 400,000 shares authorized; ______ shares issued and ______ outstanding | $1,850,000 | |||||||||
Additional paid-in capital | ||||||||||
In excess of par | 165,000 | |||||||||
Total paid in capital | 2,015,000 | |||||||||
Retained Earnings | 750,000 | |||||||||
Total paid-in capital and retained earnings | 2,765,000 | |||||||||
Less: Treasury stock (18,000 shares) | 270,000 | |||||||||
Total stockholders equity | $2,495,000 | |||||||||
Complete the following statements.
(a) | The number of shares of common stock issued was | enter a number of shares of common stock issued | shares | ||
(b) | The number of shares of common stock outstanding was | enter a number of shares of common stock outstanding | shares | ||
(c) | The common stock was issued for a total of | $enter a total amount for common stock issued | |||
(d) | The cost per share of the treasury stock was | $enter cost per share of the treasury stock in dollars | per share | ||
(e) | The average issue price of the common stock was (Round to 2 decimal places, e.g. 5.25) | $enter average issue price of the common stock in dollars per share rounded to 2 decimal places | per share | ||
(f) | Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be | $enter balance in the treasury stock in dollars |
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