Exercise 11.9

Exercise 11.9 - 48,000 100,000 B Retricted amount for...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
10-Feb Treasury Stock 425,000 Cash Purchase Treasury stock 17,000 shares at $25/share 4-Jun Cash 198,000 Treasury Stock Additional Paid in Capital Sold 6000 shares Treasury stock, which cost $150,000 at a price of $33 per share 22-Dec Cash 88,000 Additional Paid in Capital 12,000 Treasury Stock Sold 4000 shares of Treasury Stock which cost $100,000, at $22 per share
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
425,000 150,000
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 48,000 100,000 B. Retricted amount for treasury stock owned is $175,000(17,000 shares bought at $25/share minus 10,000 shares sold=7000 shares x $25/share) C. Yes the restriction on the retained earnings does affect the dollar amount reported because retained earings on treasury stock owned cannot exceed balance of the retained earings....
View Full Document

{[ snackBarMessage ]}

Page1 / 3

Exercise 11.9 - 48,000 100,000 B Retricted amount for...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online