Study Help Me
Study Help Me
Study Help Me


question archive The following correctly prepared entries without explanations pertain to Corners Corporation: Account TitleDebitCredit1

The following correctly prepared entries without explanations pertain to Corners Corporation: Account TitleDebitCredit1

Subject:AccountingPrice: Bought3

The following correctly prepared entries without explanations pertain to Corners Corporation: Account TitleDebitCredit1. Cash1,250,000 Common Stock 750,000 Paid-in Capital in Excess of Par Value 500,000 2. Treasury Stock23,200 Cash 23,200 3. Cash22,000 Treasury Stock 18,400 Paid-in Capital in Excess of Cost of Treasury Stock 3,600 The original sale (Entry 1) was for 500,000 shares, and the treasury stock was acquired for $4 per share (Entry 2).Requireda.What was the sales price per share of the original stock issue? (Round your answer to 2 decimal places) b.How many shares of stock did the corporation acquire in Entry 2? c.How many shares were reissued in Entry 3? d.How many shares are outstanding immediately following Entries 2 and 3, respectively?

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE
assignment helpassignment helperassignment expertsassignment writing services