Question
The Stockholders Equity section of Deacon Moving and Storages balance sheet on January 1, 2019, appears as follows: Common stock, $4 par, 40,000 shares issued
- The Stockholders Equity section of Deacon Moving and Storages balance sheet on January 1, 2019, appears as follows:
Common stock, $4 par, 40,000 shares issued and outstanding $160,000
Additional paid-in capital - Common 145,000
Retained earnings 475,000
Total stockholders equity $780,000
On March 1, 2019, Deacon reacquired 3,000 shares of common stock at $9 per share. Answer the following questions:
- Estimate the price received by the company per share of stock issued. Assume that no other issuances occurred during the first quarter of 2019
- What amount would be reported on the March 31, 2019, balance sheet for treasury stock?
- What is the number of outstanding shares at March 31, 2019?
- How much is total stockholders equity to be reported on the March 31, 2019 balance sheet?
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Accounting Information For Business Decisions
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley
1st Edition
0030224292, 978-0030224294
