Mid America Amusements Corporation had the following stockholders\' equity on No

Question

Mid America Amusements Corporation had the following stockholders' equity on November 30 On December 30, Mid America purchased 175 shares of treasury stock at $8 per share. Read the requirements. (click the icon to view the stockholders' equity.) NovermDer 30 Mid America Amusements Corporation Balance Sheet (Partial) December 31 Stockholders Equity Paid-In Capital: Common Stock $5 Par Value; Paid-In Capital in Excess of Par-Common or Total Paid-In Capital Total Stockholders' Equity il till Choose from any list or ent

Explanation / Answer

Paid in Capital: Common stock-$5 par value; 1,300 shares authorised, 280 shares issued, 105 shares outstanding 1400 paid in capital in excess of par - common 4200 Total paid in capital 5600 Retained earnings 50000 Less: Treasury stock, At cost (175 shares, $8 par share) (1400) Total Stock holder's equity 54200

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