Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Concepts And Methods

Authors: McGraw-Hill

1st Edition

0074701266, 978-0074701263

More Books

Students also viewed these Accounting questions