During its first year of operations, Vader Corp. issued 15,000 shares of its $1 par common stock for$65,000. In June, Vader issued an additional 5,000 shares of the same $1 par common stock for$8.25 each. During September, Vader repurchased 2,500 shares for $25,000; this left Vader with17,500 shares outstanding. What is the balance in the Common Stock account as of December 31st?$81.250O $106,250O $17,500O $20,000O None of the above.

Common stock account is based on the par value of common shares issued. Common stock is not reduced…

Answered: During its first year of operations,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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