Question: Weldon Wire has issued 2 500 000 shares of 2 par common

Weldon Wire has issued 2,500,000 shares of $2 par common stock at an average price of $10 per share. Of these, 100,000 shares were repurchased during the year for $15 each and retired. Another 200,000 shares of the shares were repurchased for $17 each and are being held for later use. There were no other common stock transactions during the year.

Determine the balance in each of the following shareholders’ equity accounts: Common stock—par; Additional paid-in capital; and Treasury stock.

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  • CreatedSeptember 10, 2014
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