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10-01-2020
Business

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Sold 87,000 shares of the common stock in an initial public offering for $14 per share. Repurchased 24,000 shares of the previously issued shares for $17 per share. Resold 8,000 shares of treasury stock for $20 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year

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ahmedgodtrust ahmedgodtrust

10-01-2020

Answer:

$

Issued common stock (87,000 x $14) = 1,218,000

Common stock repurchased (24,000 x $17) = 408,000

Total stockholders' equity 810,000

Explanation:

Total stockholder's equity is the par value of issued common stock minus the par value of common stock repurchased.

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