accounting

Finishing Touches has two classes of stock authorized: 8%, $10 par preferred and $1 par value common. The following transactions affect stockholders' equity during 2010, its first year of operations: January 2 Issue 100,000 shares of common stock for $25 per share. February 6 Issue 2,000 shares of 8% preferred stock for $12 per share. September 10 Repurchase 10,000 shares of its own common stock for $30 per share. December 15 Reissue 5,000 shares of treasury stock at $35 per share. find the preffered stock on Feb 6 and the treasury stock on Dec 15

Answers

The preferred stock on February 6 is 2,000 shares at $12 per share, which equals $24,000. The treasury stock on December 15 is 5,000 shares at $35 per share, which equals $175,000.

Answered by richardhardy

We have mentors from

Contact support