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Problem 11-24A Analyzing journal entries for treasury stock transactions LO 11-4, 11-5 The following correctly...

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Problem 11-24A Analyzing journal entries for treasury stock transactions LO 11-4, 11-5 The following correctly prepared entries without explanations pertain to Corners Corporation: Debit 1,640,000 Credit Account Title 1. Cash Common Stock Paid-in Capital in Excess of Par Value 2. Treasury Stock Cash 1,010,000 630,000 46,200 46,200 41,000 3. Cash Treasury Stock Paid-in Capital in Excess of Cost of Treasury Stock 37,800 3,200 The original sale (Entry 1) was for 410,000 shares, and the treasury stock was acquired for $7 per share (Entry 2). Required a. What was the sales price per share of the original stock issue? (Round your answer to 2 decimal places.) Sales price per share b. How many shares of stock did the corporation acquire in Entry 2? Corporation acquired shares of stock c. How many shares were reissued in Entry 3? Shares reissued shares d. How many shares are outstanding immediately following Entries 2 and 3, respectively? Outstanding Shares Entry 2 c. How many shares were reissued in Entry 3? Shares reissued shares d. How many shares are outstanding immediately following Entries 2 and 3, respectively? Outstanding Shares Entry 2 Entry 3

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