Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. at its date of incorporation, a company issued its

At its date of incorporation, a company issued its $8 par common stock at $10...

70.2K

Verified Solution

Question

Accounting

At its date of incorporation, a company issued its $8 par common stock at $10 per share. During the current year, the company acquired 22,000 shares of its common stock at a price of $20 per share and accounted for them by the cost method. Subsequently, these shares were reissued at a price of $16 per share. Paid-in Capital T/S prior to the reissue has a balance of $13,000. How much does the reissuance of the stock decrease Retained Earnings? If there is no effect on Retained Earnings, then enter 0.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Find all solutions of: (a) 4? ≡ 3 ??? 7 (b) 9? ≡ 11 ??? 26 (c) 8?...

Physics
1.2K views

28 The velocity of image w r t ground in the below figure is 5...

Basic Math
1.2K views

Find the x and y coordinates of point G The coordinates of G are Type...

Basic Math
1.2K views

Evaluate e-0.87 Round your answer to five decimal places, and do not include "e-0.87"In your...

Calculus
1.2K views

Factor the polynomial completely. [Hint: Do not use space in your answer.]m - 125

Calculus
1.2K views

3 Sketch the graphs of the given functions by determining the appropriate information and points...

Algebra
1.2K views

Using 26 flavors how many different milkshakes can you create using seven of the flavors

Accounting
1.2K views

16 The following information pertains to Diane Company. Assume that all balance sheet amounts represent...

Accounting
1.2K views

Exercise 7-11A (Algo) Preparing a schedule of cash payments for selling and administrative expenses LO...

Accounting
1.2K views

(iii) Product 'x' generates a contribution to sales ratio of 40%. Fixed costs directly attributable...

Accounting
1.2K views

Account Number 101 112 126 130 149 201 209 301 400 726 729 In addition...

Accounting
1.2K views

Your friends and you have decided to open a large restaurant in Ranchi. You plan...