FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Stock Issuance and Treasury Stock
Diva, Inc. recorded the following capital stock transactions:
Balance Sheet
Assets
= Liabilities + Stockholders' Equity
PIC in Excess of
+ Common Stock +
Common
Treasury
PIC from
Stock
Stock
+ Treasury Stock
(1)
1,048,800
110,400
938,400
(2)
(107,800)
(107,800)
(3)
87,360
73,920
13,440
Use the following additional information about the above transactions when answering questions a through e.
(1) issued common stock for $38 cash per share
(2) purchased treasury shares at $44 per share.
(3) sold some of the treasury shares:
a. How many shares were originally issued? 0
b. What was the par value of the shares issued? $ 0
C. How many shares of treasury stock were acquired? 0
d. How many shares of treasury stock were sold? o
e. At what price per share was the treasury stock sold? $ 0
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Transcribed Image Text:Stock Issuance and Treasury Stock Diva, Inc. recorded the following capital stock transactions: Balance Sheet Assets = Liabilities + Stockholders' Equity PIC in Excess of + Common Stock + Common Treasury PIC from Stock Stock + Treasury Stock (1) 1,048,800 110,400 938,400 (2) (107,800) (107,800) (3) 87,360 73,920 13,440 Use the following additional information about the above transactions when answering questions a through e. (1) issued common stock for $38 cash per share (2) purchased treasury shares at $44 per share. (3) sold some of the treasury shares: a. How many shares were originally issued? 0 b. What was the par value of the shares issued? $ 0 C. How many shares of treasury stock were acquired? 0 d. How many shares of treasury stock were sold? o e. At what price per share was the treasury stock sold? $ 0
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