Preferred stock (8%, $50 par value) $300,000 $150,000
Common stock ($10 par value, 80,000 shares
Authorized, 80,000 shares issued , 10,000
Shares treasury 800,000 650,000
Additional paid in capital
Preferred stock 200,000 175,000
Common stock 525,000 300,000
Retained earnings 679,000 505,000
Less: Treasury stock 150,000
Total shareholders equity $2,654,000 $1,780,000
a. how many shares of common stock were issued during 2006? What was there average issue price?
b. how many shares of preferred stock were issued during 2006? What was their average issue price?
c. give the entry for the company's purchase of treasury stock. What was the average repurchase price?
d. what was the company's book value at the end of 2005?2006?The shareholders equity section of Valade Corp's balance sheet is:
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Net Increase in Common Stock Account = 800,000 - 650,000 = 150,000
Par Value of a Share = $10 (given)
Thus Total new shares ...
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