At its inception on January 1,2022 . The Jonas Company issued 50,000 shares of $20...

70.2K

Verified Solution

Question

Accounting

image

image

At its inception on January 1,2022 . The Jonas Company issued 50,000 shares of $20 par value common stock for $100 per share. On December 15, 2022, Jonas repurchased 10,000 shares of the common stock it had previously issued (i.e. Jonas purchased 10,000 shares of Treasury Stock) for a price of $150 per share. No other stock transactions occurred before the year ended on December 31, 2022. Jonas' retained earnings as of December 31, 2022 were $400,000. As of December 31, 2022 , what is the number of outstanding common shares of Jonas and what is the total amount of Jonas' stockholder's equity? 50,000 outstanding common shares; and $5,000,000 total stockholders' equity 40.000 outstanding common shares; and $3,900,000 total stockholders' equity 200,000 outstanding common shares; and $6,900,000 total stockholders' equity 40.000 outstanding common shares; and $5,400,000 total stockholders' equity At its inception on January 1,2022 , The Jonas Company issued 50,000 shares of $20 par value common stock for $100 per share. On December 15,2022 , Jonas repurchased 10,000 shares of the common stock it had previously issued (i.e. Jonas purchased 10,000 shares of Treasury Stock) for a price of $150 per share. No other stock transactions occurred before the year ended on December 31,2022 . Jonas' retained earnings as of December 31,2022 were $400,000. As of December 31 , 2022. What is the number of outstanding common shares of Jonas and what is the total amount of Jonas' stockholder's equity? 50,000 outstanding common shares; and $5,000,000 total stockholders' equity 40,000 outstanding common shares; and $3,900,000 total stockholders' equity 200,000 outstanding common shares: and $6,900,000 total stockholders' equity 40,000 outstanding common shares; and $5,400,000 total stockholders' equity

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