On March 4 of the current year, Barefoot Bay, Inc. reacquired 5,000 shares of its common stock at $89 per share. On August 7, Barefoot Bay sold 3,500 of the reacquired shares at $100 per share. The remaining 1,500 shares were sold at $88 per share on November 29.
1. Journalize the transactions of March 4, August 7, and November 29. If an amount box does not require an entry, leave it blank or enter "0".
Mar. 4 Aug. 7 Nov. 29
2. What is the balance in Paid-in Capital from Sale of Treasury Stock on December 31 of the current year?
$
On March 4 of the current year, Barefoot Bay, Inc. reacquired 5,000 shares of its common stock at $89 per share. On August 7, Barefoot Bay sold 3,500 of the reacquired shares at $100 per share. The remaining 1,500 shares were sold at $88 per share on November 29.
1. Journalize the transactions of March 4, August 7, and November 29. If an amount box does not require an entry, leave it blank or enter "0".
| Mar. 4 | |||
| Aug. 7 | |||
| Nov. 29 | |||
2. What is the balance in Paid-in Capital from Sale of Treasury Stock on December 31 of the current year?
$
Related questions
Weighted Average Shares
At the beginning of 2014, Hardin Company had 330,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock:
| March | 1 | Issued 43,000 shares of stock at $24 per share. |
| June | 1 | Issued a 10% stock dividend. |
| July | 1 | Issued 11,000 shares of stock at $29 per share. |
| Aug. | 31 | Issued a 2-for-1 stock split on outstanding shares, reducing the par value to $5 per share. |
| Oct. | 31 | Reacquired 99,000 shares as treasury stock at a cost of $32 per share. |
| Nov. | 30 | Reissued 52,000 treasury shares at a price of $35 per share. |
Required:
1. Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number.
shares
2. Determine the number of common shares outstanding at December 31, 2014.
shares
