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The shareholders' equity section of Buzytown Industries' balance sheet reports the following: 2015 2014 Preferred stock (9%, $100 par value) $200,000 $110,000 Comon stock ($10
The shareholders' equity section of Buzytown Industries' balance sheet reports the following:
2015 | 2014 | |
Preferred stock (9%, $100 par value) | $200,000 | $110,000 |
Comon stock ($10 par value, 750,000 shares authorized, 90,000 issues, and 5,000 held in treasury) | 900,000 | 750,000 |
Additional paid-in capital | ||
Preferred stock | 150,000 | 35,000 |
Common Stock | 465,000 | 298,000 |
Retained Earnings | 575,000 | 495,000 |
Less: Treasury Stock | (110,000) | - |
Total Shareholders Equity | $2,180,000 | $1,688,000 |
A. How many shares of pref. stock were issued during 2015? What was the average issue price?
B. How many shares of common stock were issued during 2015? What was the average isssu price?
C. Prepare the entry to record the repurchase of the company's own stock during 2015. What was the average repurchase price?
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