Question

At January 1, 2022, 22 company reported the following stockholders equity accounts: Common stock, 39 par Paid-in capital - common stock Treasury stock (14.000 shares at $15 c Paid in capital - treasury stock ... Retained earnings . $450,000 125,000 210,000 12,000 During January, 22 company entered into the following transactions: January 14 Reissued 3.000 of the treasury shares for $9 per share January 19 Re-issued 5,000 of the treasury shares for $16 per share January 22 Issued 4,000 shares of previously un-issued common stock for $17 per share January 29 Re-issued 2,000 of the treasury shares for $13 per share Calculate the balance in the paid-in capital - common stock account after all of the above transactions have been recorded 157.000

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Answer 1

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I have given below journal entries and closing balance of Paid-in capital - Common stock

Credit Date Journal January 14 Cash Paid in capital - Treasury stock Retained Earnings To Treasury stock Debit $27,000 $12,000 $6,000 $45,000 $80,000 January 19 Cash To Treasury stock To Paid in capital - Treasury stock $75,000 $5,000 $68,000 January 22 Cash To Common stock To paid in capital- common stock $36,000 $32,000 January 29 Cash Paid in capital - Treasury stock To Treasury stock $26,000 $4,000 $30,000 Balance in paid-in capital Common Stock Opening Balance Add: Issue of additional common shares Closing balance $125,000 $32,000 $157,000