The balance sheet of AAA Company included the following shareholders equity section on December 31, 2024:...
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The balance sheet of AAA Company included the following shareholders equity section on December 31, 2024: Common stock ($2 par, authorized 200 million shares, issued and outstanding 100 million shares) Paid-in capital-excess of par Paid-in capital-shares repurchase Retained earnings Total shareholders' equity ($ in millions) $200 During 2024, AAA Corporations had the following transactions: 500 100 560 $1,360 January 1 Purchased 20 million shares of treasury stock at $10 per share June 3 Sold the 5 million shares of treasury stock at $15 per share August 28 Sold the 5 million shares of treasury stock at $12 per share September 15 old the 5 million shares of treasury stock at $8 per share October 1 Reacquired 2 million shares at $10.00 each Instructions: Prepared the above transactions. Present all computations and formulas without computations and formulas you will receive 0 points for the exercise. The balance sheet of AAA Company included the following shareholders equity section on December 31, 2024: Common stock ($2 par, authorized 200 million shares, issued and outstanding 100 million shares) Paid-in capital-excess of par Paid-in capital-shares repurchase Retained earnings Total shareholders' equity ($ in millions) $200 During 2024, AAA Corporations had the following transactions: 500 100 560 $1,360 January 1 Purchased 20 million shares of treasury stock at $10 per share June 3 Sold the 5 million shares of treasury stock at $15 per share August 28 Sold the 5 million shares of treasury stock at $12 per share September 15 old the 5 million shares of treasury stock at $8 per share October 1 Reacquired 2 million shares at $10.00 each Instructions: Prepared the above transactions. Present all computations and formulas without computations and formulas you will receive 0 points for the exercise.
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January 1 Purchased 20 million shares of treasury stock at 10 per share To record this transaction w... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
Posted Date:
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