Question
The following items were shown on the balance sheet of Weslyn Corporation on December 31, 2015: Stockholders Equity Paid-in capital Capital Stock Common Stock. $10
The following items were shown on the balance sheet of Weslyn Corporation on December 31, 2015:
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 and show computations.
The number of shares of common stock issued was _____________
The number of shares of common stock outstanding was _________
The sales price of the common stock when issued was $__________
The cost per share of the treasury stock was $______________
The average issue price of the common stock was $___________
Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be $____________
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