Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The stockholders' equity account balances of Kay Corporation for 2020 are given below: January 1 December 31 Common stock ($12 par, 54,000 shares outstanding) ............
The stockholders' equity account balances of Kay Corporation for 2020 are given below: January 1 December 31 Common stock ($12 par, 54,000 shares outstanding) ............ 648,000 720,000 Paid-in capital common stock ............................... 540,000 582,000 Treasury stock (10,000 shares at a cost of $16 per share) .... 160,000 33,600 Paid-in capital treasury stock ............................. 4,000 18,000 Retained earnings ............................................ 425,000 469,745 During 2020, Kay Corporation entered into the following transactions: March 23 Re-issued 2,500 of the treasury shares for $14 per share June 9 Re-issued 3,800 of the treasury shares for $22 per share August 15 Issued 6,000 shares of previously un-issued common stock November 2 Re-issued 1,600 of the treasury shares December 18 Declared and paid a dividend on the outstanding shares of common stock Kay Corporation reported a net income of $280,000 for 2020.
Calculate the dollar amount per share received from the issue of the common stock on August 15. Do not use decimals in your answer or type the words per share after your answer.
Calculate the Dollar Amount of shares received from the re-issue of the treasury stock on november 2?
Calculate the dollar amount per share paid to the stockholders from the dividend on december 18?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started