Omaha, Inc., recorded certain capital stock transactions shown in the following journal entries: (1) issues common stock for $40 cash per share, (2) purchased treasury shares at $50 per share, and (3) sold some of the treasury shares:

1. 1 Cash437,000 
2.              Common Stock 43,700 
3.              Paid-in capital in excess of par value 393,300 
4. 
   
5. 2 Treasury Stock77,000 
6.                            Cash 77,000 
7. 
   
8. 3 Cash 63,360
9.              Treasury stock 52,800 
10.              Paid-in capital from treasury stock 10,560

1. Questions
2. How many shares were originally issued?
3. What was the par value of the shares issued?
4. How many shares of treasury stock were acquired?
5. How many shares of treasury stock were sold?
6. At what price per share was the treasury stock sold?

Answer rating: 100% (QA)

Here are the answers to your questions How many shares were originally issued The number of shares originally issued can be calculated by dividing the ... View the full answer