Question

The following correctly prepared entries without explanations pertain to Corners Corporation:
The original sale (Entry 1) was for 400,000 shares, and the treasury stock was acquired for $5 per share (Entry 2).
Required
a. What was the sales price per share of the original stock issue?
b. How many shares of stock did the corporation acquire in Entry 2?
c. How many shares were reissued in Entry 3?
d. How many shares are outstanding immediately following Entries 2 and 3, respectively?


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  • CreatedApril 20, 2015
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