Question Details

Stockholders’ equity Paid-in capital



The following items were shown on the balance sheet of Easton Corporation on December 31, 2013:

Stockholders’ equity
	Paid-in capital
		Capital stock
			Common stock, $5 par value, 400,000 shares
			authorized; ______ shares issued and ______ outstanding		$1,850,000
		Additional paid-in capital
			In excess of par		     165,000
				Total paid-in capital		2,015,000

	Retained earnings		     750,000
			Total paid-in capital and retained earnings		2,765,000
	Less:  Treasury stock (18,000 shares)		    (180,000)
			Total stockholders' equity		$2,585,000

Instructions
Complete the following statements and show your computations.
(a)	The number of shares of common stock issued was _______________.
(b)	The number of shares of common stock outstanding was ____________.
(c)	The sales price of the common stock when issued was $____________.
(d)	The cost per share of the treasury stock was $_______________.
(e)	The average issue price of the common stock was $______________.
(f)	Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be $_______________.




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