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From the practice on page 10-4 of the VLN, how many of shares of common stock were issued? Question 7 0.2 pts From the practice on page 10-4 of the VLN, after the company sold 500 shares of treasury stock what was the ending balance in total stockholders' equity? Practice J Corp Stockholders' Equity section from their 12/31 Balance Sheet is given: Paid in Capital Common stock ($0.01 par; authorized 100,000,000 shares, issued shares and outstanding Additional paid in capital Retained earnings Treasury stock (2,000 shares) Total Stockholders' Equity Complete the following statements and show your computations: 1. The number of shares of common stock issued was 2. The number of shares of common stock outstanding was 3. The average sales price of the common stock when issued was 4. What is the cost per share for the treasury stock? 5. Total Stockholders' Equity is $1,500 471,000 450,000 (30,000) $ Shares Shares per share per share S S S 6. Assume 500 shares of the treasury stock are resold at $20 per share. Record the sale of treasury stock: 7 How much did "additional paid in capital" change when the 500 shares of treasury stock were sold? 8. What is the remaining balance in the Treasury Stock account? $ $ 9. What does the Stockholders' Equity Section look like after the 500 shares of treasury stock is sold? Paid in Capital Common stock ($0.01 par; authorized 100,000,000 shares, issued shares and outstanding $1,500 Additional paid in capital Retained earnings 450,000 Treasury stock shares) Total Stockholders' Equity PART B: Earned Capital Retained Earnings Accumulated Deficit Chapter 10 Page 10.4

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