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ACCT 320 Hinson 10-2 Shareholder's Equity

ACCT 320 Hinson 10-2 Shareholder's Equity - 22 22 Paid-in...

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ACCT 320 Assignment 10-2 Shareholder’s Equity Jamie Hinson November 17, 2008 P18-2 1. a) Retirement Treasury Stock (in millions) Common stock $6 Treasury stock (cost) $18 Paid-in capital – excess of par $10 Paid-in capital – share repurchase $1 Retained earnings (difference) $1 Cash $18 Cash $18 b) Retirement Treasury Stock Cash $24 Cash $24 Common stock (par) $12 Treasury stock $12 Paid-in capital (excess) $12 Paid-in capital $12 c) Retirement Treasury Stock Cash $14 Cash $14 Common stock (par) $7 Treasury stock $7 Paid-in capital (excess) $7 Paid-in capital $7
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2. (in millions) Shares Retired Treasury Stock Shareholder’s Equity Paid-in capital: Common Stock $240 $240 Paid-in capital – excess
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Unformatted text preview: 22 22 Paid-in capital – reacquired 2 2 Retained earnings 11 Less: Treasury stock (cost) (20) Total shareholder’s equity $284 $255 P18-3 1. Retirement Treasury Stock (in millions) Common stock $6 Treasury stock (cost) $7 Paid-in capital – excess of par $1 Cash $7 Cash $7 2. (in millions) Shares Retired Treasury Stock Shareholder’s Equity Paid-in capital: Common Stock $245 $245 Paid-in capital – excess 7 7 Paid-in capital – reacquired 400 400 Retained earnings 86.5 Less: Treasury stock (cost) (165) Total shareholder’s equity $652 $573.5...
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