issued 250 shares of $12 par value common stock for $21 a share. Five hundred sh

Question

issued 250 shares of $12 par value common stock for $21 a share. Five hundred shares are authorized. Purchased 50 shares of treasury stock at $17 a share. Issued 250 shares of $12 par value common stock for $21.00 a share. Five hundred shares ar Common Stock, $12 par value, 500 shares authorized 250 shares issued and outstanding Paid in Capital in Excess of Par -Common Less: Treasury Stock, 50 shares @ $12 par value $3,000 $2,250 Common Stock, $21 par value, 500 shares authorized, 250 shares issued, 200 outstanding Less: Treasury Stock, 50 shares $17 per share $5,250 $850) O Common Stock, $12 par value, 500 shares authorized. 250 shares issued, 200 outstanding Paid in Capital in Excess of Par Common Less: Treasury Stock, 50 shares $17 per share $3,000 $2,250 $850) Common Stock, $12 par value, 500 shares authorized 250 shares issued, 450 outstanding Paid in Capital in Excess of Par - Common Less. Treasury Stock, 50 shares $17 per share $5,400 $4,050 $850)

Explanation / Answer

Option C is correct the common stock issued in par and excess of par should be mentioned in seperate lines in the stockholder equity section. The treasury stock purchased back also needs to be written for the price purchased

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