Question: Sinason Company is authorized to issue 2 million shares of
Sinason Company is authorized to issue 2 million shares of common stock. At the beginning of 2010 it had 450,000 shares of common stock issued and 400,000 shares outstanding. The Common Stock account had a balance of $ 112,500 while the Additional Paid- in Capital account had a balance of $ 8,820,000. The Treasury Stock account had a balance of $ 750,000. During 2010 Sinason reissued all the treasury stock for $ 20 per share. Show how these events would be reported on the 2010 Statement of Owners’ Equity.
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