Homework Answers
| Question 4 | |||
| DATE | PARTICULARS | DEBIT | CREDIT |
| Jan1 2015 | Cash | 150000 | |
| Common stock | 60000 | ||
| paid in capital in excess of par | 90000 | ||
| Mar 1 2015 | Treasury stock-common | 42000 | |
| Cash | 42000 | ||
| June 1 2015 | Cash | 15000 | |
| Treasury stock-common | 10500 | ||
| Paid in capital from treasury stock | 4500 | ||
| June 1 2015 | Cash | 15000 | |
| Paid in capital from treasury stock | 6000 | ||
| Treasury stock-common | 21000 |
Question
Answers to fill in the blanks
Authorized=400,000 shares issued= 185000 outstanding=167,000
a.185000
b.167,000{ 185,000- 18,000( treasury stock)}
c.10.89 [(number of shares issued X par value) + paid in capital] / number of shares issued=[ (185000*10)+165000]/ 185000
d.15 ( 270000/18000)
e.10.89 [(number of shares issued X par value) + paid in capital] / number of shares issued=[ (185000*10)+165000]/ 185000
f.202500 [ 270000-( 18000*25%*15)]
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