Park Corp's equity accounts at December 31, 2016 were as follows: . Common stock, $20 par--$8,000,000;...

  

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Park Corp's equity accounts at December 31, 2016 were as follows: . Common stock, $20 par--$8,000,000; Additional paid-in capital--$2,550,000; . Retained earnings--$1,275,000. . . All shares of common stock outstanding at December 31, 2016 were issued in 2010 for $26 a share. On January 4, 2017, Park reacquired 20,000 shares of its common stock at $24 a share and retired them. Immediately after the shares were retired, the balance in additional paid-in capital was: $2,470,000 $2.590.000 $2.510,000 $2,430,000 Park Corp's equity accounts at December 31, 2016 were as follows: . Common stock, $20 par--$8,000,000; Additional paid-in capital--$2,550,000; . Retained earnings--$1,275,000. . . All shares of common stock outstanding at December 31, 2016 were issued in 2010 for $26 a share. On January 4, 2017, Park reacquired 20,000 shares of its common stock at $24 a share and retired them. Immediately after the shares were retired, the balance in additional paid-in capital was: $2,470,000 $2.590.000 $2.510,000 $2,430,000

Answer rating: 100% (QA)

2470000 Working a b c f No of shares to be reacquired Reacuired pric... View the full answer