Exercise 11.9

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

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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
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425,000 150,000
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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....
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Exercise 11.9 - 48,000 100,000 B. Retricted amount for...

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