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treasury Stock-repurchased and resold
I need help with this puzzle
Company P's Equity account for the year 19xx are as follows Common Stock ($5-25,000 issued & Outstanding)... 125,000 Premium on common Stock.. . 625,000 Retained Earnings.. . 1,00,000 Total $1,750,000 During the year Company P Had following transactions 1. Repurchased 5,000 shares @ $15.00 per share (5,000*15=$75,000) 2. Resold 5,000 shares @ $20.00 per share (5,00*20= $100,000) After these treasury stock transactions, Company P' Adjusted total equity should be: My answer is 1,775,000 Total Repurchased Resold =Adjusted Total Equity 1,750,000 + 75,000 - 100,000 = $1,775,000 ! 1750,000 2. 1850,000 3. 1925,000 1-3 are possible answer too |
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