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Pr15-5 modified for Treasury Stock - cost method. Common stock $30 PAR value, 20,000 auth, 9,000 outstanding 270,000 Contributed capital in excess of PAR 99,000 Retained earnings 80,000 Owners' equity 449,000
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Pr15-5 modified for Treasury Stock - cost method Common stock $30 PAR value, 20,000 auth, 9,000 outstanding 270,000 Contributed capital in excess of PAR 99,000 Retained earnings 80,000 Owners' equity 449,000 a) acquired 380 shares of its own shares at $39 per share b) acquired 300 shares of its own shares at $43 per share c1) reissued 100 treasury shares for $37 per share c2) reissued 250 treasury shares for $42 per share d) reissued 120 treasury shares for $38 per share e) retired the remaining 210 treasury shares
Pr15-5 modified for Treasury Stock - cost methodthis is after step (d) before step (e) Balance Sheet as of Dec. 31, 2006 Owners' Equity section Common Stock $30 PAR value 20,000 shares authorized, 9,000 shares issued and 8,790 shares outstanding 270,000 Contributed capital in excess of PAR value 99,000 Contributed capital treasury stock transactions 270 Contributed capital 369,270 Retained Earnings ($9,030 is restricted for the cost of treasury stock) 79,800 449,070 Less cost of treasury stock 210 shares at cost 9,030 Owners' equity 440,040
