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Accounting treasury stock help?
Sold 5,530 shares of treasury stock-common for $32,820...
what is the treasury stock common and the Paid-in cap. from common treasury stock?
he stockholders' equity accounts of Neer Corporation on January 1, 2010, were as follows.
Preferred Stock (8%, $50 par, cumulative, 10,900 shares authorized) $ 397,500
Common Stock ($1 stated value, 2,086,000 shares authorized) 1,389,000
Paid-in Capital in Excess of Par Value-Preferred Stock 100,700
Paid-in Capital in Excess of Stated Value-Common Stock 1,437,600
Retained Earnings 1,772,000
Treasury Stock-Common (10,500 shares) 42,000
During 2010, the corporation had the following transactions and events pertaining to its stockholders' equity.
Feb. 1 Issued 24,410 shares of common stock for $118,700.
Apr. 14 Sold 5,530 shares of treasury stock-common for $32,820.
Sept. 3 Issued 5,100 shares of common stock for a patent valued at $35,050.
Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,940.
Dec. 31 Determined that net income for the year was $481,900.
1 Answer
- buzLv 71 decade ago
you don't have enough information to amswer this... you need to know what the original cost of the treasury shares were, and whether they were recorded at par or actual cost basis
