Bohemian Company has 500,000 shares of no par common stock with a stated value of $8...
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Bohemian Company has 500,000 shares of no par common stock with a stated value of $8 per share issued and outstanding as of January 1, originally issued for $14 per share. During 2018, Bohemian Company had the following transactions involving its own stock: • On March 6, acquired 20,030 shares of treasury stock at a cost of $11 per share • On April 18, resold 5,350 shares of treasury stock at $18 per share. • On June 11, resold an additional 1,740 shares of treasury stock at $9 per share If Bohemian uses the cost method of accounting for treasury stock, what will be the balance in additional paid in capital from treasury stock as a result of these transactions? Bohemian Company has 500,000 shares of no par common stock with a stated value of $8 per share issued and outstanding as of January 1, originally issued for $14 per share. During 2018, Bohemian Company had the following transactions involving its own stock: • On March 6, acquired 20,030 shares of treasury stock at a cost of $11 per share • On April 18, resold 5,350 shares of treasury stock at $18 per share. • On June 11, resold an additional 1,740 shares of treasury stock at $9 per share If Bohemian uses the cost method of accounting for treasury stock, what will be the balance in additional paid in capital from treasury stock as a result of these transactions?
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Financial management theory and practice
ISBN: 978-0324422696
12th Edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
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