Sinason Company is authorized to issue 2 million shares of common stock. At the beginning of 2010

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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.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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