Description of this paper

Lamar Inc. has issued 1,000,000 shares of common stock with a par of $1.00 an additional paid in capital of $7,000,000

Description

solution


Question

Question;Lamar Inc. has issued 1,000,000 shares of common stock with a par of $1.00 an additional paid in capital of $7,000,000. On 7/1/14 the company re-purchased one half of its stock for $15.00 per share. On 10/1/14 the company sold ? of the treasury stock to Costa Co. for $18.00 per share.Please provide the following:1. A workpaper that displays the account changes leading to ending balances for the treasury stock, capital stock and additional paid in capital accounts.. Frost?s Frozen Confections has issued 1,000,000 shares of common stock with a par of $1.00 an additional paid in capital of $7,000,000. Recently, Frost?s Frozen Confections has been most profitable. On 7/1/14 the company re-purchased one half of its stock for $15.00 per share. On 10/1/14 the company sold ? of the treasury stock to Berliner?s Big Bad Brokerage for $18.00 per share.Please provide the following:1. A workpaper that displays the account changes leading to ending balances for the treasury stock, capital stock and additional paid in capital accounts.2. Prepare the footnote for treasury stock.

 

Paper#43070 | Written in 18-Jul-2015

Price : $19
SiteLock