Second Help Save Exit Submit Prior to May 1 Fortune Company

Second Help Save & Exit Submit Prior to May 1, Fortune Company has never had any treasury stock transactions A company repurchased 290 shares of its common stock on May 1 for $14.500 On July t t reissued 145 of these shares at $53 per share On August 1, it reissued the remaining treasury shares at $48 per share What is the balance in the Paid-in Capital, Treasury Stock account on August 27 35 25 poines Multiple Choice 8004317 $14 645 7685 o$2800 5145

Solution

when the company repurchased its capital, the balanceof treasury stock = -$14500

when company reissued these share = 145*53+ 145*48 = 7685+6960 = $14645

so net balance in paid in capital ,treasury stock will be = 14645-14500 = $145