Homework Answers
Answer
D) 872,000
Calculations:
Step 1
20,000 shares * $ 63 per share = $ 1,260,000
Step 2
= $ 1,260,000 - ($ 1,260,000 - $ 872,000)
= $ 872,000
In case of any doubt, please comment.
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On
January1 Teeter Corporation had 75000 shares of no par common stock
issued and outstanding. The stock has a stated value $6 per share.
During the year, the following transaction occured.
Apr 1 Issued 8000 additional shares of common stock for $10
per share.
June 15 Declared a cash dividend of $2 per share to
stockholders of record on June 30.
July 10 Paid the $2. cash dividend.
Dec 1 Issued 3000 additional shares of commin stock for $12
per...
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