Chapter 11 - Reporting and Interpreting Owners’ Equity
E11–11. Req. 1
Number of preferred shares issued: $100,000 Req. 2
Number of preferred shares outstanding: 10,000 shares issued minus 500 shares held Req. 3
Average sales price per share of preferred stock when issued: ($100,000 + $15,000) ÷ Req. 4
Req. 5
Treasury stock transactions decreased stockholders’ equity by $8,000 (same as the decrease in corporate resources in 4 above). Req. 6
Treasury stock cost per share: $9,500 ÷Req. 7
Req. 8
Issue price of common stock $600,000 ÷