Wildhorse Corporation's shareholders' equity section at December 31, 2022 was: Common shares, $4 par value, authorized 1205000
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Question:
Wildhorse Corporation's shareholders' equity section at December 31, 2022 was:
| Common shares, $4 par value, authorized 1205000 shares; | |||
| issued 905000 shares; outstanding 802000 shares; | $4507240 | ||
| Contributed surplus | 3247000 | ||
| Retained earnings | 5246000 | ||
| 13000240 | |||
| Less treasury shares, at cost, 98000 shares | 882000 | ||
| Total shareholders' equity | $12118240 |
During 2023, Wildhorse sold 29400 treasury shares at $11 per share. No other similar transactions occurred during 2023. What amount should be reported for this transaction on the 2023 income statement?
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Related Book For 
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
