1question 2 part

Q1:

Consider the journal entry to repurchase the shares. What is the TOTAL DOLLAR NET IMPACT on stockholder's equity?

Q2:

Consider the journal entry to reissue the shares. What is the amount of the CREDIT (if any) to the Paid in Capital Shares Repurchases account?

BEFORE REPURCHASE BEFORE REPURCHASE 693,000 $1.00 $693,000 $900,000 # Common Shares Par value per share Paid in Capital in Excess of Par Value Paid in Capital Share Repurchases Retained Earnings TOTAL STOCKHOLDER'S EQUITY $20,000 $2,000,000 $3,613,000 ADDITIONAL INFORMATION: 10,000 # Shares reacquired Reacquired for per share $8.00 ASSUME THE SHARES ARE TREASURY SHARES AND WILL BE SUBSEQUENTLY REISSUED. Subsequently: ADDITIONAL INFORMATION: Number of shares subsequently reissued (sold) Reissued (sold) for per share 10,000 $15.00 PLEASE ROUND ALL PERCENTAGES (%'S) TO AT LEAST SIX DECIMALS WHEN MAKING YOUR COMPUTATIONS