Question
The stockholders equity section of Puxico Corporation balance sheet showed the following balances at the beginning of the year (January 1): Common stock. $2 par
The stockholders equity section of Puxico Corporation balance sheet showed the following balances at the beginning of the year (January 1):
Common stock. $2 par value, 10,000 shares authorized, 5,000 shares issued $ 10,000
Additional paid-in capital from common stock issuances 44,000
Retained earnings 18,000
Total $ 72,000
During the year, the company had the following transactions
March 1: Issued 2,000 additional shares of common stock at $9 per share.
April 30: Repurchased 3,000 shares of Puxicos common stock for $8 per share.
May 31: Sold 800 shares of the treasury stock at $7 per share.
June 30: Common stock was split 2 for 1.
Sept. 30: Declared a $0.20 per share cash dividend on the common stock for shareholders of record on October 15 (the dividend will be paid on November 30).
December 31: Reported $4,000 net income for the year.
A. What is the book value of the common stock account on December 31?
B. What is the total number of shares of common stock issued as of December 31?
C. What is the total number of shares of common stock outstanding as of December 31?
D. What is the book value of the treasury stock account on December 31?
E. What is the amount of the cash dividend declared on September 30?
F. What is the balance in the retained earnings account on December 31?
Please show the work for better understanding
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