The company began business on January 1st. It´s Balance Sheet on December 31st contained the Shareholder´s Equity as follows:

During the year Colgate engaged in the following capital stock transactions:

 

a. Issued shares for 15€ each.

b. Acquired 300 shares for the treasury in a single transaction.

c. Reissued some of the treasury shares.

Assume that those were all of the common stock transactions during the year.

1.- How many shares did Colgate issued for 15€?

2.- What was the price at which it acquired the treasury shares? 

3.-How many shares did it reissue from the stock of treasury shares? 

4.- What was the price at which it reissued the treasury shares? 

5.- What journal entries did it make during the year? 

Transcribed Image Text:

Shareholder's Equity Colgate Palmolive corp. Common Stock (10€ par value) Additional paid in capital Retained earnings Less 180 shares held in treasury Total Shareholder's Equity 30.000 15.720 6.000 -3.600 48.120 Shareholder's Equity Colgate Palmolive corp. Common Stock (10€ par value) Additional paid in capital Retained earnings Less 180 shares held in treasury Total Shareholder's Equity 30.000 15.720 6.000 -3.600 48.120

Answer rating: 100% (QA)

1 Calculate the number of shares issued Common Stock Amo... View the full answer