Early in 2010, Steel Corporation was formed with authorization to issue 100,000 shares of P2 par...
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Early in 2010, Steel Corporation was formed with authorization to issue 100,000 shares of P2 par value common stock. All shares were issued at a price of P12 per share. The corporation reported net income of P140,000 in 2010, P50,000 in 2011, and P90,000 in 2012. No dividends were declared in any of these three years. In 2011, the company purchased P50,000 of its own shares in the open market. In 2012, it reissued all of its treasury stock for P62,000. Compute the following ending balances: Common Stock Book Value per Share Compute for Compute for Early in 2010, Steel Corporation was formed with authorization to issue 100,000 shares of P2 par value common stock. All shares were issued at a price of P12 per share. The corporation reported net income of P140,000 in 2010, P50,000 in 2011, and P90,000 in 2012. No dividends were declared in any of these three years. In 2011, the company purchased P50,000 of its own shares in the open market. In 2012, it reissued all of its treasury stock for P62,000. Compute the following ending balances: Common Stock Book Value per Share Compute for Compute for
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
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