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The table below shows selected 12/31/Y3 equity data for Snoyers Auto Shop. Use the information inthe table and the following 20Y4 additional facts to fill
The table below shows selected 12/31/Y3 equity data for Snoyers Auto Shop. Use the information inthe table and the following 20Y4 additional facts to fill in the companys equity values as of December 31, 20Y4. Snoyer uses the cost method to account for treasury stock transactions and has only had one common stock share issuance in its history. Stock reissuances are accounted for using FIFO and all treasury stock related APIC transactions are accounted for in the one account listed below.
12/31/Y3 $600,000 $90,000 $0 $0 12/31/Y4 Account Common Stock, $20 par Additional Paid-In Capital Common Stock Additional Paid-n Capital Treasury Stock Treasury Stoclk Additional 20Y4 transactions (in chronological order): 10,000 shares were acquired at $28 per share. .9,000 shares were acquired at $30 per share. 15,000 shares of treasury stock were reissued at $30 per share. . 2,000 shares of treasury stock were reissued at $26 per share. 1,000 shares of treasury stock were formally retired. You may use the t-accounts below to organize your work. 12/31/Y3 $600,000 $90,000 $0 $0 12/31/Y4 Account Common Stock, $20 par Additional Paid-In Capital Common Stock Additional Paid-n Capital Treasury Stock Treasury Stoclk Additional 20Y4 transactions (in chronological order): 10,000 shares were acquired at $28 per share. .9,000 shares were acquired at $30 per share. 15,000 shares of treasury stock were reissued at $30 per share. . 2,000 shares of treasury stock were reissued at $26 per share. 1,000 shares of treasury stock were formally retired. You may use the t-accounts below to organize your workStep by Step Solution
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