On January 1, 2013, Bogie Corporation had 40,000 common shares outstanding issue

Question

On January 1, 2013, Bogie Corporation had 40,000 common shares outstanding issued at $16 each during 2012. On June 1, 2013, Bogie Corporation issued 5,000 shares of its common shares at $15 per share. On September 30, 2013, Bogie Corporation repurchased 3,000 shares of its common shares for $17 per share. On November 30, 2013, Bogie Corporation reissued 2,000 shares of repurchased shares at $18 per share. The balance in Share Capital on December 31, 2013, as shown on the statement of shareholders' equity, is: $700,000 $640,000 $756,000 $703,333

Explanation / Answer

Share Capital on December 31,2013 = Common Stock including additional paid in capital on January 1 + New Common Stock including additional paid in capital issued on june 1 -Treasury stock purchase on september 30 + Treasury stock reissued on nov 30 + additional paid in capital on Treasury stock reissued on nov 30

Share Capital on December 31,2013 = 40000*16 + 5000*15 - 3000*17 + 2000*17 + 2000*(18-17)

Share Capital on December 31,2013 = $ 700,000

Answer

$ 700,000

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.